Titan Trading Notes For Tuesday [16/7/2024]:
KLCI had a good breakout back towards the 1629 points region with an overall positive market sentiment after a few shaky weeks. Daily trading volume also managed to surge back towards the 5.3 billion mark, which is a good sign here.
Main stocks that showed strong buying momentum today would be the likes of EKOVEST, JTGROUP, CEB, SIMEPROP, GBGAQRS, AZRB, TOPGLOV, BENALEC, TANCO, IJM, BJCORP, PERDANA, KENERGY, and VS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$JTGROUP(0292.MY$ had a huge breakout towards the RM 0.75 regions today, forming a new high here after briefly testing its RM 0.615+ main support over the past week. Looking quite strong here,
Although it faced some selling pressure towards closing which saw it close back towards the RM 0.70 regions, it's still looking quite strong and as long as able to sustain above its RM 0.65+ immediate support, could continue on towards and beyond the RM 0.75 regions for an uptrend continuation pattern.
Will be monitoring JTGROUP closely here.
$CEB(5311.MY$ on the other hand performed very well today as it managed to breakout from its RM 0.95+ major resistance levels and rallied all the way towards the RM 1.03 regions with huge volume and buying momentum.
This could be a sign of smart monies entering huge positions here. Overall looking quite good here as a start and as long as able to sustain, could breakout from its RM 1.07+ main downtrend resistance levels on the daily chart soon for a new uptrend.
Note that CEB had been trading on a downtrend since its IPO last year. A breakout from this main downtrend resistance would be a very good sign.
$NOTION(0083.MY$ although retraced back towards the RM 1.90+ main support levels, was able to rebound strong today, breaking out all the way towards the RM 2.02 regions with good volume and buying momentum.
Although unable to close above RM 2, its closing price at RM 1.99 was still a pretty decent sign here and as long as able to keep this up, could breakout from its RM 2.05+ immediate downtrend resistance for an uptrend continuation pattern soon in the coming weeks.
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