Titan Trading Notes For Monday [11/11/2024]:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1621 points region with an overall negative market sentiment on Friday as we still saw over 650 counters closing red for the day along with it. Daily trading volume remained around the 2.6 billion mark, which is just average.
Main stocks that showed strong buying momentum would be the likes of YEWLEE, AGX, MKHOP, DIALOG, ARMADA, and VLB. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$AGX (0299.MY)$ was definitely the star player for the day was it was able to breakout all the way towards the RM 0.63 regions with huge volume and buying momentum here despite the weak market sentiment.
This came after it retraced and consolidated over the past few months with RM 0.48 - RM 0.50+ as the main support levels. For now, it's doing very well here and despite being overbought, as long as able to hold above its RM 0.585+ immediate support, could continue on beyond its RM 0.635 all time high soon.
Will be monitoring AGX closely here as seems to be ripe for a bullish continuation pattern.
$HUPSENG (5024.MY)$ since its earlier breakout towards the RM 1.20 regions after announcing record high profits, had been able to hold well above its RM 1.12+ main support levels on the hourly charts despite the weak market.
For now, still looking quite strong here and as long as able to sustain, could breakout back towards and beyond the RM 1.20+ major resistance levels soon for a further bullish continuation pattern soon.
Will be monitoring HUPSENG closely here
With $Crude Palm Oil Futures(JAN5) (FCPOmain.MY)$ prices rallying, it's not surprising to see stocks like $THPLANT (5112.MY)$ breaking out strong during last Friday, breaking out all the way towards the RM 0.72+ regions with growing volume and buying momentum despite the weak market.
For now still looking very strong here and as long as able to hold above its RM 0.70+ immediate support levels, could continue on towards and beyond the RM 0.75 - RM 0.78+ major resistance levels soon.
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