Titan Trading Notes For Friday [9/8/2024]:
KLCI retraced slightly back towards the 1590 points region with an overall mixed market sentiment as we still saw over 650 counters closing red for the day today. Daily trading volume settled around the 4.3 billion mark, which is still pretty decent for now.
Main stocks that showed strong buying momentum would be the likes of CEB, SEALINK, KUCINGKO, DATAPRP, KGW, THETA, and SENDAI. All of which were able to sustain their rallies throughout the day on the top volumes list.
$CEB (5311.MY)$ since forming its dip region around the RM 0.35 regions yesterday, was able to resume its rebound today, breaking out all the way towards the RM 0.515 regions slightly after lunch with huge volume and buying momentum.
For now still facing strong selling pressure around the RM 0.50+ regions here but as long as able to sustain above its RM 0.465+ immediate support levels, could continue on towards and beyond the RM 0.50 - RM 0.51+ major resistance levels soon for a further rebound.
Will continue to monitor CEB closely here as I believe most of the selling from the CEO had been done already.
$SEALINK (5145.MY)$ despite retracing all the way back towards the RM 0.27+ major support levels earlier this week, was able to hold strong and broke out all the way towards the RM 0.40 regions today with huge volume and buying momentum.
Overall looking very bullish here and as long as able to sustain above its RM 0.345+ immediate support levels on the daily chart, looks like may continue on towards and beyond the RM 0.40++ zones in the coming weeks.
Will be monitoring SEALINK closely as seems to be on a healthy uptrend here.
$GOHUB (0311.MY)$ since breaking out towards the RM 1.38 all time high levels, had been retracing over the past week here all the way back towards the RM 1+ major support levels, forming a solid support region there.
Today, it was able to rebound back strongly towards the RM 1.20+ regions with good volume and buying momentum. For now looking quite good here and as long as able to sustain above its RM 1.10+ immediate support, could continue on to trend up towards the RM 1.20 - RM 1.30+ regions soon.
Will be monitoring GOHUB closely here.
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Paul Bin Anthony : very helpful thanks