CONMAT : Due a 5-6% correction.
March 3, 2011 Leave a comment
The CONMAT sector may be able to hang on for a short while longer, but not for long we fear, with a good 5-6% downside expected shortly – i.e. we think it will pullback to 7060-7100 quite quickly, with 7555 the next breakdown point.
Currently at 7630, treat any bounce in the respective stocks – especially the big construction firms, as an opportunity to sell for the time being.