Titan Trading Notes For Monday [2/9/2024]:
KLCI had a huge breakout towards the 1678 regions with an overall positive market sentiment with Property, Construction, Technology, and the Financial sector all showing good gains to close for the week. Daily trading volume also settled quite well around the 3.9 billion mark.
Main stocks that showed strong buying momentum would be the likes of SUNWAY, PBBANK, CEB, CIMB, YTLPOWR, SIMEPROP, SPSETIA, NOTION, YTL, GAMUDA, MALAKOF, TENAGA, ARMADA, TANCO, SIME, ELRIDGE, JCY, ECOWLD, INARI, NATGATE, and MRCB. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SUNWAY (5211.BMS)$ since retracing back towards the RM 3.90+ main support levels over the past week, had been able to hold well above this support region and broke out back towards the RM 4.10++ regions with huge volume during Friday.
For now looking very strong here and as long as able to sustain above its RM 3.90 - RM 4 main support levels, could continue on towards and beyond its RM 4.40+ major resistance levels for an uptrend continuation pattern soon.
Will be monitoring SUNWAY closely as seems to be trending upwards quite strongly here.
$PBBANK (1295.BMS)$ on the other hand although retraced back towards the RM 4.70 main support levels during Thursday, was able to form an immediate higher low support and broke out back towards the RM 4.82 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 4.74+ immediate support levels on the hourly charts, could continue to trend up towards and beyond the RM 4.84+ regions in the coming weeks.
Will be monitoring PBBANK closely.
$HUPSENG (5024.BMS)$ since breaking out from its RM 1.10+ main downtrend resistance earlier last week, had been able to hold well above this region and broke out towards the RM 1.16+ regions with good volume and buying momentum on Friday.
For now looking quite strong here and could be ripe for a potential uptrend continuation pattern towards and beyond the RM 1.20+ major resistance levels soon in the coming weeks.
Will be monitoring HUPSENG closely.
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