Titan Trading wrote a post · Nov 24, 2024 18:26

Titan Trading Notes For Monday [25/11/2024]:

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had a slight rebound back towards the 1589 points region with an overall mixed market sentiment as we still saw over 550 counters closing red for the day on Friday. Daily trading volume settled around the 2.5 billion mark, which is still quite low.

Main stocks that showed strong buying momentum would be the likes of GTRONIC, 99SMART, PCHEM, YEWLEE, TENAGA, and RL. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$GTRONIC (7022.MY)$ definitely stood out during last Friday as it was able to breakout all the way towards the RM 0.57 regions with huge volume and buying momentum here despite the mixed market sentiment.

This came after it retraced over the past few months here all the way back towards the RM 0.50+ major support level. For now still facing selling pressure around its RM 0.57 main downtrend resistance level here. If able to breakout from this region, then it could be quite promising for GTRONIC.

Will be monitoring GTRONIC closely here.

$PCHEM (5183.MY)$ since retracing all the way back towards its RM 4.50+ major support levels last week, had been able to rebound quite well back towards the RM 4.90+ regions with huge volume and buying momentum.

This came after it reported its first ever loss in the latest QR report. That said, as long as able to hold above its RM 4.80+ immediate support, could continue to rebound back towards the RM 5.10+ regions soon here.

Will be monitoring PCHEM closely.

$99SMART (5326.MY)$ since retracing all the way back towards the RM 2.20+ major support levels earlier this month, had been slowly inching upwards over the past few weeks here, even breaking out towards the RM 2.40 regions on Friday with good volume.

So far looking quite strong here and as long as able to hold above its RM 2.35+ immediate support levels, could continue to trend up slowly back towards the RM 2.50+ major resistance levels soon.

Will be monitoring 99SMART closely here.

$SENDAI (5205.MY)$ since breaking out towards the RM 0.78+ regions, had actually been retracing-consolidating over the past 5-6 months here with RM 0.465+ as the major support level.

Recently, it seems to have broken out from its RM 0.55+ main downtrend resistance with good volume and buying momentum here. So far still able to hold quite well and as long as able to sustain above its RM 0.55 support, could continue to trend up towards the RM 0.64 - RM 0.65+ regions soon for an uptrend continuation pattern.

Will be monitoring SENDAI closely here.

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