General Notes For Friday [5/1/2024]

KLCI had a huge breakout today back towards the 1477 points region with an overall bullish sentiment here as we hit a yearly high in terms of daily trading volume, achieving a staggering 6.37 billion today! This is an extremely good sign for a prosperous year ahead after more than 2 years of dry market.

Main stocks that showed strong buying momentum today would be the likes of MINETEC, EKOVEST, ASDION, SEALINK, IWCITY, YTLPOWR, YTL, YANHILL, LEFORM, SIMEPROP, SPSETIA, PELIKAN, BENALEC, and SUNWAY. All of which were able to sustain their rallies throughout the day on the top volumes list.

ASDION was definitely one of the best performers today as it broke out strong from its RM 0.115 major resistance levels and rallied all the way towards the RM 0.145 regions with huge volume on the daily chart today.

For now looking strong here and not showing any sign of weakness yet. As long as able to sustain above its RM 0.115+ immediate support levels, could continue on towards the RM 0.165 - RM 0.18+ regions soon for an uptrend continuation pattern.

Will be monitoring ASDION closely here.

SEALINK on the other hand also performed quite well after retracing and consolidating over the past few months with RM 0.17+ as the main support regions on the daily chart since its earlier breakout towards the RM 0.26 levels during October 2023.

Today, it had a huge breakout from its RM 0.20+ immediate downtrend resistance with huge volume, breaking out all the way towards the RM 0.22+ regions and not showing any sign of weaknesses yet.

As long as able to sustain, could continue on towards the RM 0.25 - RM 0.26+ regions for an uptrend continuation pattern soon. Will be monitoring SEALINK closely too.

AEMULUS since breaking out from its RM 0.30 main downtrend resistance over the past month, had been consolidating and holding quite well and today, was able to breakout strong towards the RM 0.33+ regions with good volume and buying momentum.

So far still looking very strong here for an uptrend continuation pattern as long as able to hold above its RM 0.32 immediate support regions, could breakout back towards and beyond the RM 0.34 - RM 0.35+ major resistance levels soon.