Titan Trading Notes For Thursday [18/7/2024]:
KLCI had a good breakout towards the 1633 points region with an overall positive market sentiment today as the market started to rebound strong from the past weeks of selling activities. Daily trading volume also managed to bounce back towards the 5.2 billion mark, which is a good sign here.
Main stocks that showed strong buying momentum would be the likes of EKOVEST, BJCORP, SNS, MRCB, MYEG, CENSOF, WCT, IWCITY. JPG, NOVAMSC, JCY. GBGAQRS, IJM, AGX, PLYTEC, and FAJAR. All of which were able to sustain their rallies throughout the day on the top volumes list.
$EKOVEST(8877.MY$ since breaking out from its RM 0.48+ main downtrend resistance last week, had been breaking out strong here with huge volume and buying momentum, even testing the RM 0.56 regions today despite being overbought.
For now looking quite strong here and as long as able to sustain above its RM 0.525 immediate support levels, could continue on towards and beyond the RM 0.60+ regions for an uptrend continuation pattern.
Will be monitoring EKOVEST closely as something big seems to be brewing behind the scenes.
$MRCB(1651.MY$ since breaking out towards the RM 0.74 regions, had been retracing over the past 2 months here with RM 0.60+ as the main support levels on the daily chart over the past month.
However recently, was able to come back up quite strongly and today, even managed to breakout towards the RM 0.69 regions with good volume and buying momentum. So far looking quite ripe for an uptrend continuation pattern here as long as able to sustain above its RM 0.66+ support.
Will be monitoring MRCB closely
$FAJAR(7047.MY$ although retraced back towards its RM 0.51+ immediate support levels earlier this week, was able to rebound and breakout quite strong today, breaking out towards the RM 0.54 regions with good volume and buying momentum.
For now looking very ripe for an uptrend continuation pattern here. As long as able to sustain above its RM 0.515+ immediate support, could continue on towards and beyond its RM 0.55+ major resistance levels soon.
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