Titan Trading wrote a post · Nov 18, 2024 02:14

Titan Trading Notes For Monday [16/11/2024]:

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1592 points region with an overall mixed market sentiment as we still saw over 570 counters closing red for the day along with it. Daily trading volume remains average around the 2.7 billion mark, which is still not very high.

Main stocks that showed strong buying momentum would be the likes of ARMADA, CEB, NOTION, TANCO, SUNWAY, ATAIMS, and BAHVEST. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$ARMADA (5210.MY)$ following its potential merger with MISC's offshore business, was able to breakout from its RM 0.515 main downtrend resistance levels and rallied all the way towards the RM 0.54 regions with huge volume and buying momentum on Friday.

For now looking quite strong here and as long as able to sustain above its RM 0.515+ immediate support levels, could trend back up towards the RM 0.56 - RM 0.59+ major resistance levels soon.

Will be monitoring ARMADA closely here. Note that it has an NTA of RM 1 and is only trading at PE6 now. May still have room to go if the merger goes through.

$CEB (5311.MY)$ since its earlier sharp sell down towards the RM 0.325+ major support levels, had been able to recover its strength and closed back towards the RM 0.395 regions on Friday with good volume and buying momentum.

So far looking quite strong here and as long as able to sustain above its RM 0.37+ immediate support, could continue on towards and beyond its RM 0.415+ major resistance levels in the coming weeks here for a further breakout.

Will be monitoring CEB closely here.

$JPG (5323.MY)$ since taking a hit and retraced all the way back towards the RM 1.22+ major support levels last week, had been able to recover quite well towards the RM 1.30+ regions on Friday with good volume and buying momentum.

With $Crude Palm Oil Futures(MAY5) (FCPOmain.MY)$ prices still climbing up steadily, we could see another rally coming in soon if JPG breaks out from its RM 1.35 major resistance levels, could be testing back its RM 1.47 all time high levels once more.

Will be monitoring JPG closely here

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