Titan Trading Notes For Monday [29/10/2024]:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1610 points region with an overall negative market sentiment today as we still saw over 780 counters closing red for the day. Daily trading volume settled quite low around the 2.4 billion mark with sellers dominating the market.
Main stocks that showed strong buying momentum would be the likes of YTL, NE, CAPITALA, PBBANK, YEWLEE, TANCO, YTLPOWR. and GOCEAN. All of which were able to sustain their rallies throughout the day on the top volumes list.
$NE (0325.MY)$ despite the weak market sentiment, was able to breakout from its RM 0.585 all time high levels and rallied all the way towards the RM 0.625 regions to form a new high here with huge volume and buying momentum.
For now looking quite strong here and as long as able to hold above its RM 0.59+ immediate support levels, could continue on towards and beyond the RM 0.625 all time high levels soon for a bullish continuation pattern.
Will be monitoring NE closely here.
$CAPITALA (5099.MY)$ despite retracing back towards the RM 0.955+ support levels, was able to breakout back towards closing green around the RM 0.985 regions with good volume and buying momentum.
For now looking quite bullish here and as long as able to sustain above its RM 0.955+ immediate support levels, could continue on towards and beyond the RM 1.02 major resistance levels soon.
Will be monitoring CAPITALA closely as still seems to be performing quite well despite the weak market.
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