Titan Trading Notes For Friday [4/10/2024]:
KLCI briefly rebounded back towards the 1641 points region with an overall mixed market sentiment as we still saw over 500 counters closing red for the day today. Daily trading volume settled around the 3.2 billion mark, which is pretty average for now.
Main stocks that showed strong buying momentum would be the likes of CIMB, LHI, SPSETIA, APB, and SINKUNG. All of which were able to sustain their rallies throughout the day on the top volumes list.
$LHI (6633.MY)$ since breaking out from its RM 0.67 main downtrend resistance, had been able to trend up strong all the way towards the RM 0.775 regions today with huge volume and buying momentum despite the mixed market sentiment.
Despite being overbought for now, still not showing any sign of weaknesses yet. As long as able to hold above its RM 0.75 immediate support levels, could continue on towards and beyond the RM 0.80+ regions soon in the coming week.
Will be monitoring LHI closely here as seems to be on a pretty bullish.
$99SMART (5326.MY)$ over the past few weeks had actually been slowly forming higher lows as it retraced, which is a very positive sign here for an incoming bullish breakout if able to sustain this kind of buying momentum.
For now as long as able to hold above its RM 2.20+ immediate support levels, could breakout from its RM 2.30+ major resistance levels for another wave up soon in the coming weeks.
Will be monitoring 99SMART closely here as still looking very strong.
$SLVEST (0215.MY)$ since retracing back towards the RM 1.54+ main support levels, was able to rebound strong and close back towards the RM 1.59 regions here with good volume and buying momentum.
Seems to have formed its higher low regions already and if able to sustain, could breakout from its RM 1.62+ major resistance levels, could continue on towards the RM 1.70++ regions soon in the coming weeks.
Will be monitoring SLVEST closely here
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