Titan Trading Notes For Thursday [7/11/2024]:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ was able to rebound back towards the 1634 points region with an overall bullish market sentiment today as President Trump won the elections. Daily trading volume soared back towards the 3.3 billion mark, which is a pretty decent sign here.
Main stocks that showed strong buying momentum would be the likes of 3REN, GENETEC, CEB, TOPGLOV, MYEG, JCY, GTRONIC, VS, CREST, BAHVEST, YTL, NICE, VTC, NOTION, AIMFLEX, CAREPLS, EKOVEST, INARI, PERTAMA, JPG, NATGATE, CYPARK, SUNWAY, 99SMART, and SNS. All of which were able to sustain their rallies throughout the day on the top volumes list.
Market today was flying in general, running multiple themes at once, with technology leading the way, followed by the healthcare and construction sectors.
$GENETEC (0104.MY)$ since retracing all the way towards the RM 0.68+ support levels yesterday, was definitely the main star performer for today as it broke out and rallied all the way towards the RM 0.95 regions with huge volume and buying momentum.
This rally was most likely fueled by President Donald Trump's win in the elections today as GENETEC supplies parts to $Tesla (TSLA.US)$ , who's owner Elon Musk is a huge supporter of Donald Trump.
I doubt GENETEC's earnings will see improvements in the near future just because of this, so just be more cautious when trading it on a breakout. Will definitely be monitoring GENETEC as Trump-Elon related stocks have been surging quite high worldwide.
$NOTION (0083.MY)$ on the other hand also had a huge breakout from its RM 0.96+ main downtrend resistance levels on the daily chart, rallying all the way towards the RM 1.10+ regions today with huge volume.
This came after consolidating over the past few months with RM 0.85+ as the main support levels. For now looking quite strong here and as long as able to hold above its RM 1.04+ support, could continue on towards and beyond the RM 1.20 major resistance levels soon.
That said, we do have to factor in that this week will likely see QR releases for NOTION. I expect to see some forex losses as the Ringgit had strengthened too much from the USD over the past few months, so will likely reflect on Q4 2024. Have to factor this in when trading it.
$KOSSAN (7153.MY)$ since breaking out from its RM 2.15+ main downtrend resistance levels yesterday, had been able to sustain the buying momentum and broke out all the way towards the RM 2.30++ regions with huge volume and buying momentum today.
So far looking quite strong here and as long as able to hold above its RM 2.20+ immediate support levels on the daily chart, could continue on towards and beyond the RM 2.40+ major resistance levels soon.
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