Tech Beat: Cement Sector's bullish momentum tests key 1D 200EMA

By Abdur Rahman | September 06, 2023 at 01:23 PM GMT+05:00

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September 06, 2023 (MLN): The cement sector has shown a strong bullish momentum since May of this year, when it crossed above the one-day 200 exponential moving average (1D 200EMA) for the first time in eight months.

The 1D 200EMA is a key indicator of the long-term trend and the cement sector had been trading below it since September 2022.

However, the recent rally has brought the cement sector index to a critical juncture, as it is now retesting the 1D 200EMA from above for the first time this year.

The 1D 200EMA is currently at 39,800, while the cement sector index is hovering around 40,500. This level is of great significance, as it will determine whether the bullish trend will continue or not.

If the cement sector index can hold above the 1D 200EMA, it will confirm the uptrend continuation and open up more room for upside potential.

On the flip side, if the cement sector index falls below the 1D 200EMA, it will signal a loss of momentum and a possible return to the bearish scenario.

Therefore, a cautious approach is advisable for market participants. Monitoring price movements and exercising risk management strategies should remain a top priority.

Cement Sector Companies' Stock Performance

30-Day

Scrip Price Movements

Symbol	Sep-23	Jun-23	Dec-22	FYTD	CYTD
ACPL	81.99	82.87	56.55	-1.06%	44.99%
BWCL	150	145	128.01	3.45%	17.18%
CHCC	124.55	120.28	101.9	3.55%	22.23%
DBCI	3.12	3.12	3.12	0.00%	0.00%
DNCC	10.1	10.3	7	-1.94%	44.29%
DGKC	43.8	51.3	51.64	-14.62%	-15.18%
POWER	3.65	4.1	4.62	-10.98%	-21.00%
FCCL	10.91	11.76	12.02	-7.23%	-9.23%
FECTC	19.5	19.99	17.53	-2.45%	11.24%
FLYNG	5.52	5.54	5.86	-0.36%	-5.80%
GWLC	16.2	15.5	15.99	4.52%	1.31%
KOHC	156.99	173.47	147.7	-9.50%	6.29%
LUCK	553	522.09	446.58	5.92%	23.83%
MLCF	28.55	28.33	22.57	0.78%	26.50%
DCL	4.06	4.15	4.53	-2.17%	-10.38%
PIOC	82.9	86.63	51.43	-4.31%	61.19%
SMCPL	13.26	17.31	14.5	-23.40%	-8.55%
THCCL	12.2	11.36	11.92	7.39%	2.35%
Sector Index	40,462	40,175	34,839	0.72%	16.14%

Stock Close/Current Price

Volume Comparison

Average Volume
Symbol	Since SBA (Jul-Current)	Jan-Jun	% Change
ACPL	45,396	112,794	-59.75%
BWCL	16,040	20,364	-21.23%
CHCC	530,938	506,779	4.77%
DBCI	-	-	-
DCL	976,222	719,215	35.73%
DGKC	2,509,441	2,437,506	2.95%
DNCC	5,411	14,545	-62.80%
FCCL	3,871,300	2,689,847	43.92%
FECTC	5,400	10,628	-49.19%
FLYNG	1,070,367	667,252	60.41%
GWLC	136,300	51,822	163.01%
KOHC	136,365	130,989	4.10%
LUCK	511,619	430,145	18.94%
MLCF	5,208,955	5,009,907	3.97%
PIOC	808,362	1,672,198	-51.66%
POWER	585,344	401,074	45.94%
SMCPL	12,700	3,062	314.76%
THCCL	262,000	202,376	29.46%
Sector Index	927,342	838,576	10.59%

Volume in Shares

Cement Sector vs KSE-100

Disclaimer: The views and analysis in this article are the opinions of the author and are for informational purposes only. It is not intended to be financial or investment advice and should not be the basis for making financial decisions.

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