KLCI: Potential bear trap and spring with likely MCO extension
Banks at resistance. Breakout by CIMB has failed (day not closed yet).
Likely announcement of MCO Phase 1 extension may be caused selldown in bank and other recovery stocks and create a bear trap similar to Nov 2020.
Likely announcement of MCO Phase 1 extension may be caused selldown in bank and other recovery stocks and create a bear trap similar to Nov 2020.