Titan Trading Notes For Monday [12/8/2024]:
KLCI had a decent rebound back towards the 1596 points regions during last Friday with an overall positive market sentiment as our market had been rebounding well over the past week from Monday's selling activities. Daily trading volume remained around the 4.1 billion mark, which is pretty decent.
Main stocks that showed strong buying momentum during last Friday would be the likes of CEB, MYEG, TECHNAX, EKOVEST, ATAIMS, DNEX, SNS, TOPGLOV, MRCB, MNHLDG, NOVAMSC, SIMEPROP, JCY, SUNWAY, YTLPOWR, MAHSING, and KUCINGKO. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ATAIMS (8176.MY)$ since retracing back towards the RM 0.35+ major support levels, had been able to rebound quite well earlier last week all the way towards the RM 0.45 main downtrend resistance with good volume and buying momentum.
This came after news of its JV announcement with a China partner, potentially catalysing the stock. For now as long as able to sustain above its RM 0.40+ immediate support, could continue on towards and beyond the RM 0.485 - RM 0.50+ regions for an uptrend continuation pattern.
Will be monitoring ATAIMS closely here.
$DNEX (4456.MY)$ since breaking out towards the RM 0.52+ regions, had actually been retracing over the past 2 months all the way back towards the RM 0.35+ major support levels, and was able to rebound strong back towards the RM 0.42+ regions with good volume.
For now as long as able to sustain above the RM 0.40+ immediate support levels, could breakout from the RM 0.42 main downtrend resistance, potentially trending upwards to the RM 0.435 - RM 0.45+ regions soon.
Will be monitoring DNEX closely here as the NIISE project announcement should be made soon.
$FPHB (0304.MY)$ after retracing back towards the RM 0.54+ major support levels, was able to hold well and breakout from its RM 0.63+ main downtrend resistance with good volume and buying momentum late last week.
So far looking quite strong here and as long as able to sustain above its RM 0.61+ immediate support levels, could continue on towards and beyond the RM 0.70+ major resistance levels soon for an uptrend continuation pattern.
Will be monitoring FPHB closely here
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