Titan Trading Notes For Monday [15/7/2024]:
KLCI had a brief retracement back towards the 1619 points region with an overall mixed market sentiment as we saw almost 640 counters closing red for the day. Daily trading volume settled around the 4.5 billion mark, which is still healthy for now.
Main stocks that showed strong buying momentum for last Friday would be the likes of EKOVEST, BJCORP, RENEUCO, AZRB, WCT, AIMFLEX, UUE, SYGROUP, FAJAR, IWCITY, and HIAPTEK. All of which were able to sustain their rallies throughout the day on the top volumes list.
$EKOVEST(8877.MY$ after retracing over the past 6-7 months, formed a solid support region around its RM 0.43+ main support levels over the past few months and during last Friday, was able to breakout strong from its RM 0.485+ main downtrend resistance with good volume and buying momentum.
For now looking quite ripe for a new uptrend here and as long as able to sustain above its RM 0.475+ main support levels on the daily chart, could continue on towards and beyond the RM 0.525+ regions soon.
Will be monitoring EKOVEST closely.
$BJCORP(3395.MY$ on the other hand since breaking out from its RM 0.32+ major resistance levels last week, had been able to trend up strong towards the RM 0.355 major resistance levels with good volume and buying momentum.
For now looking quite strong here and as long as able to hold above its RM 0.335+ immediate support levels on the daily charts, could continue on towards and beyond its RM 0.355+ major resistance levels for an uptrend continuation pattern.
Will be monitoring BJCORP closely here.
$EG(8907.MY$ without a doubt was one of the better performers last week as it was able to breakout strong from its RM 2.07+ major resistance levels and rallied all the way towards the RM 2.26 regions with huge volume and buying momentum.
After 1 month of consolidation, looking quite ripe here for an uptrend continuation pattern as long as able to sustain above its RM 2.10+ immediate support levels in the coming week.
Will be monitoring EG closely
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