Titan Trading Notes For Thursday [15/8/2024]:
KLCI resumed its upward momentum, breaking out towards the 1612 points region today, wiping off last Monday's losses from the panic selling wave. Overall market sentiment however remained slow and sluggish as we only settled with a daily trading volume of about 3.5 billion today.
Main stocks that showed strong buying momentum today would be the likes of TOPGLOV, VS, VELESTO, UNIQUE, MALAKOF, MESTRON, SIME, and WCT. All of which were able to sustain their rallies throughout the day.
$VS (6963.MY)$ since retracing all the way back towards the RM 0.95+ major support levels, had been able to rebound quite well over the past few weeks here, even breaking out towards the RM 1.24 regions with good volume and buying momentum today.
So far looking quite strong here and as long as able to sustain above its RM 1.15+ immediate support levels on the daily chart, could continue on towards the RM 1.30+ regions soon for an uptrend continuation pattern.
Will be monitoring VS closely here as seems to be on a very strong recovery and uptrend.
$UNIQUE (0257.MY)$ on the other hand was also one of the best performers today, breaking out from its RM 0.40 major resistance levels and rallied all the way towards the RM 0.445 regions with huge volume and buying momentum, forming its new all time high here.
For now looking very bullish and as long as able to sustain above its RM 0.42+ immediate support levels, could continue on towards and beyond the RM 0.45++ regions soon for an uptrend continuation pattern.
Will be monitoring UNIQUE closely here as seems to be starting a strong uptrend wave.
$GOHUB (0311.MY)$ on the other hand also had been consolidating over the past few weeks here with RM 1.25+ as the main downtrend resistance levels here on the hourly and daily charts.
So far had been able to form higher lows along the way and as long as able to hold above its RM 1.10+ main uptrend support levels, could continue on towards and beyond the RM 1.25+ regions soon.
Will be monitoring GOHUB closely here
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