Titan Trading Notes For Friday [2/2/2024]:
KLCI closed back green around the 1512 points region today with a negative sentiment overall as we still had over 630+ counters closing red for the day. Daily trading volume hovered around the 3.67 billion mark, which is pretty low for today's standards.
Main stocks that showed strong buying momentum would be the likes of MRCB, HEGROUP, SSF, DAYANG, PANDA, E&O, and CAPITALA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$MRCB(1651.MY$ after facing some selling pressure over the past week, had been able to hold quite well above its RM 0.615+ immediate support levels here and was able to rebound back towards the RM 0.65 regions today with good volume and buying momentum.
Seems to be forming a potential higher low region here and if able to sustain, could breakout soon back towards the RM 0.70+ major resistance levels soon for a potential bullish continuation pattern.
Will be monitoring MRCB closely here for an entry opportunity.
$SSF(0287.MY$ had a very strong V-Shaped recovery here over the past month since breaking towards its RM 0.22 all time low earlier towards breaking out towards the RM 0.335 regions today with good volume and buying momentum, forming a new all time high.
For now looking strong here, definitely on a new uptrend here and as long as able to hold above its RM 0.31+ immediate support levels, could be potentially trending up to RM 0.335 - RM 0.35+ soon in the coming weeks.
Will be monitoring SSF closely as it seems to be strong and uptrending.
$YNHPROP(3158.MY$ since announcing its sale of 163 Retail Park to SUNREIT, had been taking quite a hit over the past 2 trading days here, reaching all the way towards the RM 0.625+ major support regions today.
However, towards closing it was able to see some buying momentum which saw the stock rebound back towards the RM 0.66 regions with good volume. If able to hold above the support at RM 0.63, could breakout from its RM 0.675 immediate resistance levels to test the RM 0.715+ regions soon for a stronger rebound.
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