Titan Trading Notes For Tuesday [17/12/2024]:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced slightly back towards the 1606 points region with an overall negative market sentiment as we still saw over 650 counters closing red for the day. Daily trading volume maintained around the 3.1 billion mark, mainly dominated by sellers.
Main stocks that showed strong buying momentum would be the likes of MYEG, JCY, SUPERMX, GTRONIC, OMESTI, PWRWELL, SORENTO, AZAMJAYA, and SNS. 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 from its RM 0.915+ main downtrend resistance, had been trending up over the past 2 weeks here, breaking out towards the RM 0.98 regions today with good volume and buying momentum.
So far looking quite bullish here and as long as able to sustain above its RM 0.935+ immediate support levels, could continue to trend back up towards its RM 1+ major resistance levels soon in the coming weeks.
Will be monitoring MYEG closely here as seems to be trending up strong.
$SORENTO (0326.MY)$ since retracing back towards its RM 0.385+ support levels last month, been slowly recovering here and broke out strong from its RM 0.45 all time high levels, rallying all the way towards the RM 0.475 regions, forming a new high here despite the weak sentiment.
For now looking quite bullish here and as long as able to sustain above its RM 0.45 immediate support, could continue to trend up towards and beyond the RM 0.50 major psychological resistance levels soon.
Will be monitoring SORENTO closely.
$JCY (5161.MY)$ since its earlier wave up towards the RM 0.50+ regions, had been consolidating over the past 2 weeks with RM 0.47+ as the higher low region here and today, was able to breakout strong back towards the RM 0.53 regions with good volume and buying momentum.
Looking quite strong here and as long as able to sustain above its RM 0.50 immediate support, could trend back up towards the RM 0.55 - RM 0.575 regions soon in the coming weeks here.
Will be monitoring JCY closely here
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