Titan Trading Notes For Monday [13/5/2024]:
KLCI had a brief retracement back towards the 1600 points region with an overall mixed market sentiment here as we had over 530 counters closing red for the day here. Daily trading volume settled around the 4.6 billion mark here, which is still pretty good.
Main stocks that showed strong buying momentum would be the likes of TOPGLOV, CAREPLS, CORAZA, AHB, PRTASCO, GLXT, KOBAY, SENDAI, WENTEL, TOPMIX, and SEALINK. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.
$TOPGLOV (7113.MY)$ had a strong breakout from its RM 0.93+ main downtrend resistance last week which saw it rally all the way towards the RM 0.97+ regions with good volume and buying momentum here.
For now still looking quite strong here and as long as able to sustain above its RM 0.92+ main support levels, could continue on towards and beyond the RM 1+ major resistance levels soon.
Will be monitoring TOPGLOV closely here to see how it develops.
$CORAZA (0240.MY)$ after consolidating over the past month here, seems to have formed its higher low region around the RM 0.55+ levels here on the daily chart as it was able to breakout towards the RM 0.60+ regions with good volume and buying momentum.
For now looking quite strong here and as long as able to sustain above its RM 0.57+ immediate support levels, could continue on towards the RM 0.65 - RM 0.70+ major resistance levels soon for an uptrend continuation pattern.
Will be monitoring CORAZA closely as I believe there's a good chance for it to be a tech theme leader.
$RGB (0037.MY)$ since breaking out towards the RM 0.41 major resistance levels, had been retracing over the past few weeks here, forming a decent support around the RM 0.375+ regions here on the daily chart. l
For now seems to be able to hold here and could rebound and breakout back towards and beyond its RM 0.41+ major resistance levels soon for an uptrend continuation pattern soon in the coming weeks.
Will be monitoring RGB closely as still on a healthy uptrend here
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