Titan Trading Notes For Friday [15/3/2024]:
KLCI had a decent rebound back towards the 1543 points region with an overall positive market sentiment today. Daily trading volume was able to remain healthy around the 4.33 billion mark, which is pretty good.
Main stocks that showed strong buying momentum today would be the likes of MUDAJYA, GDB, ZELAN, IWCITY, EKOVEST, HEGROUP, GFM, AVALAND, PWRWELL, MRCB, and TANCO. All of which were able to sustain their rallies throughout the day on the top volumes list.
$MUDAJYA(5085.MY$ was able to breakout strong from its RM 0.135+ opening price all the way towards the RM 0.185 major resistance levels today with huge volume and buying momentum.
That said, it faced pretty strong selling pressure above the RM 0.16+ major resistance levels, which saw the stock close back towards the RM 0.16 regions for the day.
Sudden spike of volume in MUDAJYA here quite interesting, will be monitoring closely.
$HEGROUP(0296.MY$ on the other hand also did quite well, as it managed to breakout from its RM 0.505 previous all time high zones here, rallying all the way towards the RM 0.545 regions to form a new all time high.
For now, although not able to close on its intraday high, its closing price at RM 0.525 regions was still a pretty good sign, and as long as able to sustain above its RM 0.50+ immediate support, could continue on towards and beyond the RM 0.545+ regions soon.
Will be monitoring HEGROUP closely here as still looking very strong for an uptrend continuation pattern.
$TEXCYCL(0089.MY$ since retracing over the past year within a downtrend, had been able to breakout from its RM 0.78+ main downtrend resistance over the past week and rallied all the way towards the RM 0.83 regions today.
For now as long as able to hold above its RM 0.785+ support levels, could be continuing all the way towards the RM 0.885 - RM 0.90+ regions soon in the coming weeks here for a new uptrend rally.
Will be monitoring TEXCYCL closely here
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