Titan Trading Notes for Tuesday [10/12/2024]
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1611 points region with an overall negative market sentiment as we saw over 660 counters closing red for the day. Daily trading volume settled slightly over the 3 billion mark, which is still ok for current conditions.
Main stocks that showed strong buying momentum would be the likes of MYEG, DSONIC, GFM, DIALOG, CORAZA, and JTIASA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$MYEG (0138.MY)$ since breaking out towards the RM 1.15 major resistance levels during June, had been retracing and consolidating over the past 5-6 months without much volume and action here on the daily chart.
Today, it was able to breakout strong from its RM 0.925+ main downtrend resistance on the daily chart with huge volume and buying momentum, rallying all the way towards the RM 0.95+ regions here despite the weak market.
So far looking quite strong here and will be monitoring MYEG closely as could be the start of a new uptrend.
$JTIASA (4383.MY)$ on the other hand although retraced back towards the RM 1.40 support levels, was able to rebound and breakout strong all the way towards the RM 1.50 regions with huge volume and buying momentum despite being massively overbought here.
For now definitely looking parabolic and as long as able to sustain above its RM 1.40+ immediate support on the daily chart, could be testing its RM 1.53+ major resistance levels very soon here.
Will be monitoring JTIASA closely as something big seems to be brewing here.
$CORAZA (0240.MY)$ since breaking out from its RM 0.48+ major downtrend resistance, had been able to hold well and even broke out all the way towards the RM 0.56 regions with huge volume and buying momentum today.
Looking very bullish here on the daily chart despite being slightly overbought. As long as able to hold above its RM 0.52+ immediate support, could trend back up towards the RM 0.585 - RM 0.60+ major resistance levels soon for an uptrend continuation pattern.
Will be monitoring CORAZA closely as seems to be starting a new uptrend wave.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
