Titan Trading Notes For Friday [22/3/2024]
KLCI had a decent rebound back towards the 1541 points region with an overall positive market sentiment. Daily trading volume settled around the 4 billion mark, which is just average though.
Main stocks that showed strong buying momentum would be the likes of EMCC, MINETEC, WENTEL, SPSETIA, IWCITY, EKOVEST, SIMEPROP, EDUSPEC, PANDA, SUNWAY, EWINT, MRCB, UEMS, PA, MAHSING, JTGROUP, SKYWLD, and NCT. All of which were able to sustain their rallies throughout the day on the top volumes list.
$EMCC(0286.MY$ was definitely the star performer today as it broke out from its RM 0.475 previous all time high and rallied all the way towards the RM 0.52 regions to form a new high today with huge volume and buying momentum.
For now as long as able to hold above its RM 0.49+ immediate support levels, could continue on towards the RM 0.55 - RM 0.58+ regions soon in the coming week.
Definitely looking very bullish here and will be monitoring EMCC closely.
$EWINT(5283.MY$ on the other hand also had been doing quite well as it managed to breakout all the way towards the RM 0.385 regions with huge volume and buying momentum today despite being overbought.
This came after a 2-3 month long consolidation period around the RM 0.32+ support levels on the daily chart. For now looking very ripe for an uptrend continuation pattern here towards the RM 0.40+ regions soon.
EWINT looking very strong here for an uptrend continuation and will be monitoring it closely.
$WENTEL(0298.MY$ had been consolidating over the past 2 months here within the RM 0.315 - RM 0.34+ regions on the daily chart without much volume and action here.
However, it was able to breakout strongly from its RM 0.35 previous all time high today and rallied all the way towards the RM 0.37 regions with huge volume and buying momentum.
If able to sustain this kind of buying momentum, could start trending towards the RM 0.38 - RM 0.40+ regions soon in the coming weeks.
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