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

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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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