Titan Trading Notes For Monday [22/7/2024]
KLCI had a decent breakout towards the 1636 points region last week despite having over 730 counters closing red for the day. Market sentiment was definitely mixed here with a trading volume of around 4.4 billion as we closed for the week.
Main stocks that showed strong buying momentum would be the likes of BJCORP, ATAIMS, SCIB, SIAB, JPG, and THETA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.
$THETA(9075.MY$ was definitely the main star during last Friday as it managed to breakout all the way towards the RM 2.90 regions with huge volume and buying momentum despite being overbought on the daily chart.
Looking very strong for now and as long as able to sustain above its RM 2.40+ immediate support on the daily chart, could continue on towards and beyond the RM 3+ regions soon in the coming weeks for a parabolic rally continuation pattern.
Will be monitoring THETA closely here as something big seems to be brewing.
$BJCORP(3395.MY$ since breaking out from its RM 0.32+ major resistance levels earlier this month, had been breaking out strong all the way towards the RM 0.41 regions with huge volume and buying momentum despite being overbought here.
For now as long as able to sustain above its RM 0.38+ immediate support levels on the daily chart, could continue on towards and beyond the RM 0.41+ regions for an uptrend continuation pattern.
So far looking very strong here for BJCORP and will be monitoring it closely as seems to be starting a new uptrend here.
$ATAIMS(8176.MY$ had been retracing over the past 2 months from its RM 0.61+ major resistance levels and retraced all the way back towards the RM 0.46+ main support regions.
On Friday, was able to rebound strong back towards the RM 0.50+ regions with good volume and buying momentum. Seems to have formed its higher low regions here already and if able to hold above its RM 0.475 immediate support, could trend back up towards the RM 0.535 - RM 0.55+ regions soon.
Will be monitoring ATAIMS closely here.
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