Titan Trading Notes For Tuesday [3/12/2024]
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had a slight rebound back towards the 1595 points region with an overall mixed market sentiment as we still saw almost 550 counters closing red for the day. Daily trading volume dipped back towards the 2.8 billion mark, which is just average for now.
Main stocks that showed a strong buying momentum would be the likes of SALUTE, SIMEPROP, MYEG, YNHPROP, NATGATE, MICROLN, 99SMART, GENETEC, MKHOP, PMETAL, JTIASA, and KAB. All of which were able to sustain their rallies throughout the day despite the mixed market sentiment.
$SALUTE (0183.MY)$ since breaking out from its RM 0.50+ major resistance levels last week, had a huge breakout all the way today towards the RM 0.71+ major resistance levels with huge volume and buying momentum today.
So far looking very strong here and seems like something big could be brewing here. For now as long as able to sustain above its RM 0.675 immediate support, could continue on towards and beyond its RM 0.75 - RM 0.77+ major resistance levels soon.
Will be monitoring SALUTE closely here.
$99SMART (5326.MY)$ since breaking out towards the RM 2.50+ all time high levels, had been retracing and consolidating over the past 2 months here with RM 2.30+ as the main support levels.
Today, it was able to breakout strong from its RM 2.42+ immediate downtrend resistance with good volume and buying momentum, even closing on its intraday high of RM 2.44. For now as long as able to hold, could trend back up towards the RM 2.50+ regions soon.
Will be monitoring 99SMART closely here to see how far it can go.
$NE (0325.MY)$ since retracing all the way back towards the RM 0.61+ major support levels over the past 2 weeks, was able to form a solid base and broke out from its RM 0.66+ immediate downtrend resistance with good volume and buying momentum today.
For now looking quite strong here and as long as able to sustain above its RM 0.64+ immediate support, could trend back up towards the RM 0.685 - RM 0.70+ major resistance levels for an uptrend continuation pattern.
Will be monitoring NE closely here.
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