Titan Trading Notes For Thursday [1/8/2024]:
KLCI managed to rebound quite well towards the 1625 points region today with an overall mixed market sentiment as we still saw over 600 counters closing red for the day. Daily trading volume remained average around the 4.4 billion mark, mainly dominated by selling activities.
Main stocks that showed strong buying momentum would be the likes of BWYS, BJCORP, CEB, CIMB, XOX, TANCO, JCY, CENSOF, BETA, RGB, and MUIPROP. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.
$BJCORP (3395.MY)$ after retracing back towards the RM 0.40+ main support levels over the past week, had been able to hold well above the support region despite the weak market sentiment and was able to breakout strong towards the RM 0.435 regions today.
So far looking very strong here for a potential bullish continuation pattern and as long as able to sustain above its RM 0.41+ immediate support levels, could continue on towards and beyond the RM 0.435 - RM 0.45+ major resistance levels soon.
Will be monitoring BJCORP closely here for an entry opportunity as something big seems to be brewing.
$CEB (5311.MY)$ since breaking below its RM 0.94+ major support levels, had been retracing over the past week here all the way back towards forming a new low at RM 0.645 recently, forming a temporary support region here.
Today, seems to be holding strong as it was able to rebound back towards the RM 0.70 regions with good volume and buying momentum. May have dipped already here and if able to sustain above its RM 0.675 immediate support, could rebound back towards the RM 0.735+ major resistance levels soon as it's quite oversold.
Will be monitoring CEB closely for an entry opportunity soon.
$NOTION (0083.MY)$ following NOMURA's buy call giving a price target of RM 3.51, had a gap up and huge run up towards the RM 2.20+ regions earlier in the morning but unfortunately, was met with fierce selling resistance, which saw the stock retrace all the way towards the RM 2.06+ main support levels.
That said, it was still able to regain its momentum and close back green around the RM 2.15 regions with good volume and buying momentum today despite the weak market sentiment.
So far still looking quite good here and as long as able to sustain, will be expecting a potential run up towards the RM 2.30 - RM 2.40+ regions soon.
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