Titan Trading wrote a post · Nov 15, 2024 03:10

Titan Trading Notes For Friday [15/11/2024]:

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1600 points major support levels with an overall mixed market sentiment as we still saw over 580 counters closing red for the day. Daily trading volume settled around the 3.1 billion mark, which is just average.

Main stocks that showed strong buying momentum would be the likes of CLASSITA, MEGAFB, JPG, GENETEC, NOTION, SCGBHD, VTC, JCY., and TANCO. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$JPG (5323.MY)$ since retracing all the way back towards the RM 1.22 major support levels yesterday, was able to rebound strong today back towards the RM 1.32+ regions with good volume and buying momentum.

This came after it announced excellent QR results of over RM 70 million in net profit for its latest quarter. For now as long as able to hold above its RM 1.30+ immediate support, could breakout from its RM 1.35+ major resistance levels for a further rebound.

Will be monitoring JPG closely here as seems to be recovering well.

$NOTION (0083.MY)$ on the other hand was definitely the star performer today as it was able to breakout all the way towards the RM 1.20++ major resistance levels with huge volume and buying momentum today despite the mixed market sentiment.

For now looking quite strong here as this came after a 3-4 month consolidation between the RM 0.85 - RM 1.12+ range on the daily chart. For now looking quite strong here and as long as able to hold above its RM 1.12+ support, could breakout back towards the RM 1.37 - RM 1.40+ major resistance levels.

$VTC (0319.MY)$ since retracing back towards the RM 0.355+ support levels, had been able to recover well over the past few weeks and today, was able to breakout back towards the RM 0.48+ regions with good volume and buying momentum.

For now looking quite strong here and as long as able to hold above its RM 0.45+ immediate support on the hourly charts, could breakout back towards the RM 0.50 - RM 0.515+ major resistance levels soon in the coming week.

Will be monitoring VTC closely here

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