Titan Trading Notes For Monday [1/7/2024]:
KLCI had a decent rebound back towards the 1590 points region during last Friday with an overall positive market sentiment as our overall market started to rebound from the past 2 weeks of selling activities. Daily trading volume remained around the 4.2 billion mark, which is still decent for now.
Main stocks that showed strong buying momentum would be the likes of NOVAMSC, MYEG, YNHPROP, CABNET, WCT, YGL, DNEX, PANDA, KGW, KTI, AXIATA, K1, and ATAIMS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$YNHPROP(3158.MY$ after retracing all the way towards the RM 0.48+ major support levels due to its founder being sued for market manipulation back in 2018. For now seems to be showing decent buying support here.
If able to sustain, could breakout from its RM 0.58+ main downtrend resistance levels soon and start trending upwards higher as YNHPROP on its own does seem quite undervalued when comparing it to its net asset value.
Will be monitoring YNHPROP closely here to see how it performs.
$PANDA(0290.MY$ despite retracing all the way back towards its RM 0.38+ major support levels just last week, was able to hold well and breakout strong all the way towards the RM 0.465 regions with huge volume and buying momentum, forming a new all time high here.
For now still looking quite bullish and as long as able to sustain above its RM 0.43+ immediate support levels, could continue on towards and beyond its RM 0.465+ regions for a bullish continuation pattern.
Will be monitoring PANDA closely as still on a very strong and healthy uptrend.
$ATAIMS(8176.MY$ after breaking out towards the RM 0.58 regions, had been consolidating over the past 2 weeks here with RM 0.465+ as the main support levels on the hourly charts.
Seems to have formed its higher low regions already and if able to sustain, could breakout from its RM 0.50+ main resistance levels for an uptrend continuation towards and beyond its RM 0.515 - RM 0.55+ major resistance levels soon.
Will be monitoring ATAIMS closely as I'm still hanging on to all my ATAIMS shares bought last week as per my latest trading plan.
$NOTION(0083.MY$ although retraced all the way back towards the RM 1.96+ major support levels, was able to rebound strong and bounced back towards closing at RM 2.05 here as multiple broker houses imposed a cash upfront requirement for this stock.
Unlike other counters that have crashed due to the cash upfront requirement i.e. SCIB, YNHPROP, RAPID, IMASPRO, ARTRONIQ, and WIDAD, this one seems to be holding well.
This should be a testament that all the buyers of its shares were genuine and organic cash buyers that are buying to hold. Although it doesn't say everything, but this alone should say something about the company. So will have to monitor closely and trade at your own risk.
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