Titan Trading Notes For Tuesday [13/8/2024]:

KLCI resumed its upward momentum, rebounding back towards the 1606 points region with an overall positive market today after the panic sell off earlier last week. Daily trading volume settled around the 4 billion mark, which is still decent now.

Main stocks that showed strong buying momentum would be the likes of BARAKAH, MALAKOF, SEALINK, JIANKUN, NOVAMSC, JCY, SMETRIC, SNS, MIKROMB, NOTION, MUIPROP, OVERSEA, BPURI, PGLOBE, and SPSETIA. All of which were able to sustain their rallies throughout the day on the top volumes list.

This came after analysts flagged potential short term power purchase extensions by the government for one of its powerplants. Over the past weeks, EPF had been acquiring millions of shares from the open market as well.

Will be monitoring MALAKOF closely here as seems to be on a very strong uptrend.

This came after a few broker houses, namely CGS, RHB, and Hong Leong Investment Bank had uplifted their cash upfront requirements to trade this counter. I believe this was the main reason that drove the share price back up after hitting the RM 1.50+ major support levels just last week during the panic sell off.

Will continue to monitor NOTION closely as I believe it will be on a long term uptrend here being one of the most profitable HDD suppliers among its peers.

Could be potentially forming its higher low regions here and as long as able to sustain above its RM 0.50 main support levels, could continue on towards and beyond the RM 0.535 - RM 0.55+ regions soon for an uptrend continuation pattern.

Will be monitoring CEB closely here.