Titan Trading Notes For Friday [18/6/2024]:
KLCI retraced briefly back towards the 1607 points region with an overall negative market sentiment as we saw over 670 counters closing red for the day along with it. Daily trading volume however remained at a healthy level of around 5.6 billion.
Main stocks that showed strong buying momentum would be the likes of DFX, SNS, HIAPTEK, CABNET, TIFCAMSC, SUNVIEW, VINVEST, AZRB, SCOPE, YTL, NOTION, and MASTEEL. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$IFCAMSC(0023.MY$ definitely one of the strongest performer over the past week here since breaking out from its RM 0.60+ major resistance levels, rallied all the way towards the RM 0.78 regions with huge volume and buying momentum.
For now still looking very strong and not showing any signs of weakness here yet. As long as able to hold above its RM 0.70+ immediate support, could continue on towards and beyond the RM 0.78 major resistance levels for an uptrend continuation pattern.
Definitely one of the best performers for the E-invoice theme here and will be monitoring IFCAMSC closely.
$MASTEEL(5098.MY$ also performed quite well here since breaking out from its RM 0.335+ main downtrend resistance levels over the past 2 weeks, had been able to sustain well above it and broke out towards the RM 0.38 regions on Friday with good volume and buying momentum.
For now looking quite ripe for a brand new uptrend here and as long as able to hold above its RM 0.36+ immediate support level, could continue on towards and beyond the RM 0.38 - RM 0.40+ regions for an uptrend continuation pattern.
Will be monitoring MASTEEL closely here to see how far it can go.
$NOTION(0083.MY$ was definitely one of the better performers for us last week as it managed to breakout all the way towards the RM 1.83 regions with huge volume and buying momentum, once again forming a new local high region here.
Still looking very strong here and as long as able to sustain above its RM 1.70+ immediate support levels in the short term, could continue strongly on this uptrend towards and beyond the RM 1.83+ regions in the coming weeks.
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