Titan Trading Notes For Thursday [22/8/2024]:
KLCI resumed its retracement, closing back towards the 1635 points region with an overall mixed market sentiment as we still saw over 570 counters closing red for the day. Daily trading volume remained average around the 3.2 billion mark, which is just average.
Main stocks that showed strong buying momentum today would be the likes of CEB, MYEG, TANCO, BPURI, WCT, AMBANK, YNHPROP, JPG, UNIQUE, MIKROMB, and UEMS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$CEB (5311.MY)$ definitely took the spotlight today as it managed to breakout all the way towards the RM 0.45+ regions after announcing a net profit of around RM 8.7 million during its latest quarter during lunch time.
Despite taking a hit and closing back towards the RM 0.425 regions, it's still looking quite strong here and as long as able to sustain above its RM 0.41+ immediate support levels, could continue on towards and beyond the RM 0.44 - RM 0.45+ major resistance levels soon.
$WCT (9679.MY)$ since retracing back towards the RM 0.955+ major support levels earlier this month, was able to rebound quite well over the past week, and broke out towards the RM 1.05+ regions today with good volume and buying momentum.
For now looking quite strong here and as long as able to sustain above its RM 1 main support level, could continue to trend up towards the RM 1.17 major resistance levels soon in the coming weeks.
Will be monitoring WCT closely here as the volume and buying momentum remains quite strong.
$UNIQUE (0257.MY)$ although took quite a hit and retraced all the way back towards the RM 0.38+ major support levels yesterday, was able to rebound well back towards the RM 0.41 - RM 0.42+ regions today with good volume and buying momentum.
Seems to have formed its higher low regions here already during this retracement. As long as able to sustain above its RM 0.385 immediate support, could continue on to trend up towards and beyond the RM 0.455+ all time high levels.
Will be monitoring UNIQUE closely as I believe still on a strong uptrend here.
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