Titan Trading Notes For Tuesday [25/6/2024]:
KLCI resumed its retracement, closing red around 1589 points today with an overall negative market sentiment as we saw over 900+ counters closing red along with it for the day. Daily trading volume also saw a dip back towards the 5 billion mark, which is still fine for a bad day.
Main stocks that showed strong buying momentum today would be the likes of TECHBASE, GDB, KAB, VS, MCLEAN, CABNET, TANCO, WONG, and CAPITALA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.
$MCLEAN(0167.MY$ since consolidating over the past month here with RM 0.25+ as its main support, was able to breakout strong from its RM 0.34+ major resistance today, rallying all the way towards the RM 0.43 regions with huge volume and buying momentum.
For now looking very strong here, potentially on a parabolic rally and as long as able to hold above its RM 0.38+ immediate support levels on the hourly charts, could continue on towards and beyond the RM 0.45+ regions soon.
Will be monitoring MCLEAN closely here to see how it develops. Seems like something big could be brewing here.
$CABNET(0191.MY$ although retraced back towards its RM 0.525+ support levels yesterday,m was able to have a good rebound back towards the RM 0.59+ regions with good volume and buying momentum today despite the weak market sentiment.
For now still looking quite strong here and as long as able to hold above its RM 0.575 immediate support, could continue on towards and beyond its RM 0.635+ regions in the coming weeks here.
Will be monitoring CABNET closely.
$HUPSENG(5024.MY$ since retracing all the way back towards its RM 1.08+ main support levels last week, had been able to hold well above its support and bounced back strong towards the RM 1.20 regions today with good volume and buying momentum.
For now as long as able to hold above its RM 1.15+ immediate support levels, could continue on towards and beyond its RM 1.25 - RM 1.30 all time high levels soon for an uptrend continuation pattern.
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