13 Jan 2022 Closing Market Review
Today's market closed with small gain on KLCI index, mainly supported by FINANCE counters. However the sentiment was even softer due to profit taking of pennies counters & sharp drop of TECH & HC.
Some STEEL counter which were bullish yesterday, were facing certain level of profit taking as well, as traders prefer not to hold for longer term under this uncertain market.
TECH sector faced further sell down on afternoon session, despite futures index holding steady. Few waterfall spotted lead by counters like PENTA, INARI, GREATECH...etc This round of sell down crashed the hope of bottoming of tech counters. Investors are advised not to simply catching the bottom to avoid catching falling knife. Waiting for confirmation of bottoming signal would be a better option for us.
HEALTHCARE sector which already been downtrending, faced certain level of sell down as well. However, the downside should be limited compared with the TECH.
@youngmanacademy
