Titan Trading Notes For Friday [5/7/2024]:
KLCI had a decent rebound back towards the 1616 points region with an overall positive market sentiment. Daily trading volume settled around the 4.9 billion mark, which is still a pretty decent sign here.
Main stocks that showed strong buying momentum today would be the likes of OFB, JAKS, WCT, DFX, JTGROUP, TOPGLOV, SIAB, ALPHA, KGW, and KAB. All of which were able to sustain their rallies throughout the day on the top volumes list.
$WCT(9679.MY$ after briefly retracing back towards its RM 0.93+ immediate support levels yesterday, was able to form its higher low regions and broke out back towards the RM 1.02 regions today with good volume and buying momentum.
Definitely looking very strong for an uptrend continuation pattern here and as long as able to sustain above its RM 1+ immediate support, could continue on towards and beyond the RM 1.04+ regions soon.
Will be monitoring WCT closely here as something big seems to be brewing.
$TOPGLOV(7113.MY$ on the other hand since its earlier breakout towards the RM 1.25+ regions, had been retracing and consolidating over the past month with RM 1.05+ as the main support levels.
The breakout today towards the RM 1.20 regions was a good sign for an uptrend continuation pattern here, suggesting that it's formed its higher low regions already. As long as able to sustain above the RM 1.10+ immediate support, still looking quite strong.
Will be monitoring TOPGLOV closely here.
$EG(8907.MY$ since breaking out towards the RM 2.12 major resistance levels, had been retracing over the past week here with RM 1.97+ as its main support levels.
Over the past few days, had been able to hold well above it and broke out back towards its RM 2.05+ regions today. For now still looking quite strong here and as long as able to sustain above its RM 2+ immediate support levels, could continue on towards and beyond the RM 2.10+ regions for an uptrend continuation pattern.
Will be monitoring EG closely here as the uptrend still remains quite strong.
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