WCEHB on upward trend
Support at 0.475
Resistance 0.50
TP1: 0.53
TP2:0.58
The construction sector are making continuity pattern as we go through recovery phase from the pandemic.The likes of IJM and Fajar are leading the sector.We might see some movement from the small caps construction player. Be aware that commodities like steel and lumber are soaring upwards and thus might hurt earnings of these construction players unless the costs are passed to consumers thus contributing to lower valuations.We can see that there is buying interest today for WCEHB after T3. However,the price closed with a Doji candle today as the upcoming inflation data and weak market sentiment may weigh in. Price needs more confirmation next week to see if there is a higher high can be established.
Resistance 0.50
TP1: 0.53
TP2:0.58
The construction sector are making continuity pattern as we go through recovery phase from the pandemic.The likes of IJM and Fajar are leading the sector.We might see some movement from the small caps construction player. Be aware that commodities like steel and lumber are soaring upwards and thus might hurt earnings of these construction players unless the costs are passed to consumers thus contributing to lower valuations.We can see that there is buying interest today for WCEHB after T3. However,the price closed with a Doji candle today as the upcoming inflation data and weak market sentiment may weigh in. Price needs more confirmation next week to see if there is a higher high can be established.
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