Titan Trading Notes For Monday [21/10/2024]:

KLCI had a decent rebound back towards the 1645 points region with an overall positive market sentiment as we awaited for budget 2025 to be tabled during Friday evening. Daily trading volume remained average around the 2.5 billion mark.

Before I publish a full on report on the budget 2025, my overall conclusion is that we're heading in the right direction. Fiscal deficit is projected to drop further in the coming year, economic is projected to grow at a healthy level, and the government is actively trying to find ways to have better use for its money i.e. targeted subsidies and proposing taxation adjustments.

Main stocks that showed strong buying momentum during last Friday would be the likes of NE, WCT, MYEG, YTL, SIMEPROP, ELRIDGE, CREST, SPSETIA, NATGATE, CEBV, UEMS, UUE, VTC, BAHVEST, and HAWK. All of which were able to sustain their rallies throughout the day on the top volumes list.

This came after 2 months of retracement and consolidation with RM 0.325+ as the main support levels here. For now looking quite strong and as long as able to sustain above its RM 0.38 - RM 0.40 support, could continue to trend back up towards the RM 0.45+ regions soon.

Will be monitoring VTC closely here.

For now seems to have bottomed out already after retracing and consolidating over the past few months with RM 0.60 -TM 0.70+ as the main support levels on the daily chart. For now as long as able to sustain above its RM 0.75+ support, could continue on towards and beyond the RM 0.88+ regions soon.

Will be monitoring UUE closely as looking quite strong here.

For now looking quite strong here and as long as able to sustain above its RM 1.50 immediate support, could continue on towards and beyond its RM 1.60+ major resistance levels soon.