Titan Trading Notes For Friday [20/9/2024]
KLCI had a decent breakout towards the 1665 points region today with an overall positive market sentiment. Daily trading volume also managed to clinch back up towards the 3.9 billion mark, which is a positive sign.
Main stocks that showed strong buying momentum would be the likes of GTRONIC, GENETEC, CEB, 99SMART, MRCB, LHI, YTL, JCY, SUNWAY, SIMEPROP, MALAKOF, CAPITALA, NOTION, and YTLPOWR. All of which were able to sustain their rallies throughout the day on the top volumes list.
$GTRONIC (7022.MY)$ was definitely one of the best performers today as it was able to breakout strong towards the RM 0.63 regions today with huge volume and buying momentum.
This came after weeks of consolidation with RM 0.52+ as the main support levels. For now looking quite strong here and as long a sable to sustain above its RM 0.585 immediate support, could continue to rebound further towards the RM 0.66+ major resistance levels.
Will be monitoring GTRONIC closely as it looks quite ripe for a stronger rebound here.
$GENETEC (0104.MY)$ on the other hand was also able to breakout strong from its RM 0.93 major downtrend resistance and rallied all the way towards the RM 0.97 levels with good volume and buying momentum.
So far looking quite strong here and as long as able to sustain above its RM 0.88 - RM 0.90 main support levels, could continue on towards the RM 1+ regions for a further rebound.
Will be monitoring GENETEC closely here as it had been consolidating over the past 2 weeks with RM 0.80+ as the main support level already.
$99SMART (5326.MY)$ after consolidating over the past week with RM 1.85+ as the main support and RM 1.90 as the main resistance, was able to breakout strong and rally all the way towards the RM 1.97 levels, forming a new high here.
For now looking quite strong here for a potential uptrend wave. As long as able to sustain above its RM 1.92 immediate support, could continue on towards and beyond the RM 2+ regions soon.
Will be monitoring 99SMART closely here.
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