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Titan Trading Notes For Friday [8/3/2024]:

KLCI had a decent rebound back towards the 1535 points region with an overall positive market sentiment today as our market started to rebound today. Daily trading volume settled around the 3.55 billion mark, which is pretty decent for now.
Main stocks that showed strong buying momentum would be the likes of PWRWELL, ECONBHD, VELESTO, THRIVEN, MATANG, TDM, EKOVEST, GFM, MMAG, E&O, JTIASA, MAHSING, THPLANT, SUNWAY, and MRCB. All of which were able to sustain their rallies throughout the day on the top volumes list.
$PWRWELL (0217.MY)$ was definitely one of the star performers today as it managed to breakout from its RM 0.325+ major resistance levels and rallied all the way towards the RM 0.375 regions with good volume and buying momentum.
For now, looking very strong here and as long as able to hold above its RM 0.35+ immediate support levels, could continue on towards testing its RM 0.40 regions soon here for a new uptrend continuation pattern.
Something big could be brewing behind the scenes here and will be monitoring PWRWELL closely.
$ECONBHD (5253.MY)$ after consolidating over the past 5-6 months without much volume and buying momentum, had been able to start trending upwards over the past week here, even breaking out from its RM 0.39+ major resistance to test its RM 0.415 levels today with huge volume.
For now looking very ripe for a new uptrend continuation pattern here and if able to hold above its RM 0.39+ support, should be looking pretty good and potentially testing its RM 0.435 - RM 0.45 regions soon.
Will be monitoring ECONBHD closely here to see how far it can go as it seems to be in a healthy uptrend.
$CLOUDPT (0277.MY)$ since retracing back towards the RM 0.54+ support levels, had been able to slowly trend back up towards the RM 0.575 regions today with good volume and buying momentum here.
Seems to be potentially forming a brand new uptrend here and as long as able to hold above its RM 0.55+ support, could be retesting its RM 0.60+ regions soon in the coming weeks.
Will be monitoring CLOUDPT closely
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