Titan Trading Notes For Monday [26/8/2024]:
KLCI retraced back towards the 1635 points region during last Friday with an overall negative market sentiment as we still saw over 880 counters closing red for the day along with it. Daily trading volume settled around the 3.5 billion mark, unfortunately dominated with selling activities.
Main stocks that showed strong buying momentum would be the likes of ELRIDGE, ARMADA, SEALINK, and YINSON. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.
$SEALINK (5145.BMS)$ since breaking out towards the RM 0.425 regions, had been suffering from profit taking activities, retracing back towards the RM 0.32+ major support levels over the past week.
That said, was able to hold above this region and rebound back towards the RM 0.345+ regions with good volume and buying momentum. For now looking quite strong here and if able to form a higher low region, could continue on to trend up towards the RM 0.40++ regions soon once more.
Will be monitoring SEALINK closely here as the uptrend seems to be quite strong.
$YINSON (7293.BMS)$ since breaking out from its RM 2.40+ major resistance levels earlier this month, was able to sustain its buying momentum and breakout back towards the RM 2.80+ regions during last Friday with good volume.
For now looking quite strong here and as long as able to sustain above its RM 2.65+ immediate support levels on the hourly charts, could continue on towards and beyond the RM 2.88+ major resistance levels soon for an uptrend continuation pattern.
Will be monitoring YINSON closely here as seems to be starting a brand new uptrend here.
$NOTION (0083.BMS)$ unfortunately during last Friday, took a sudden and huge hit, breaking below its RM 1.37+ main support levels and retraced all the way towards the RM 0.975 regions, almost hitting its limit down price despite having good QR results.
Although it was able to rebound back towards the RM 1.14 regions, it's still not looking too good in the short term here. Not really sure what happened but will have to monitor cautiously.
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