Titan Trading Notes For Thursday [17/10/2024]:
KLCI retraced back towards the 1632 points region with an overall negative market sentiment as we still saw 700 counters closing red along with it for the day. Daily trading volume remained average around the 2.7 billion mark, mainly dominated by selling activities.
Main stocks that showed strong buying momentum would be the likes of CAPITALA, GENM, MRDIY, IOIPG, and LHI. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$CAPITALA (5099.MY)$ had a huge breakout towards the RM 0.97+ regions with huge volume and buying momentum today despite the weak market sentiment. Although it still faced selling pressure around the RM 0.97 regions, its closing price of RM 0.955+ was still quite bullish here.
So far seems to be looking quite ripe for a potential uptrend continuation pattern here and as long as able to hold above its RM 0.94+ immediate support levels, could continue to trend back up towards the RM 1+ regions soon.
Will be monitoring CAPITALA closely here as seems to be quite strong.
Although the overall property index was down for the day, $IOIPG (5249.MY)$ was able to breakout strong towards the RM 2.42 regions today with huge volume and buying momentum despite being oversold here on the daily chart and the weak market sentiment.
So far looking quite strong here and as long as able to sustain above its RM 2.20+ immediate support levels, could continue on towards and beyond the RM 2.50 major resistance levels soon for an uptrend continuation pattern.
Will be monitoring IOIPG here as still looking very strong for the property sector.
$VLB (0273.MY)$ although retraced back towards the RM 0.51 main support levels earlier this week, had been able to rebound strong today back towards the RM 0.54 regions with good volume and buying momentum.
So far looking quite ripe for a potential bullish continuation pattern here. As long as able to hold above its RM 0.52+ immediate support levels, could continue to trend back up towards the RM 0.595 all time high zones soon.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
