Titan Trading Notes For Tuesday [30/7/2024]:
KLCI had a good breakout back towards the 1624 points region with an overall positive market sentiment today after the bloodbath from last week due to US market corrections. Daily trading volume remains healthy around the 4.2 billion mark, which is pretty decent here.
Main stocks that showed strong buying momentum would be the likes of VELOCITY, MUIIND, MUIPROP, DNEX, ECOWLD, JCY, SIMEPROP, WCT, CAPITALA, HOHUP, IJM, SUNWAY, and CIMB. All of which were able to sustain their rallies throughout the day on the top volumes list.
$MUIPROP(3913.MY$ was definitely the star performer for the day as it broke out all the way towards the RM 0.365 regions with huge volume and buying momentum after consolidating over the past few years with RM 0.25+ as the main resistance.
For now looking very strong here, potentially on a parabolic rally as long as able to sustain above its RM 0.33+ immediate support levels on the hourly charts, could continue on towards and beyond the RM 0.385+ regions.
Will be monitoring MUIPROP closely as something big could be brewing here.
$ECOWLD(8206.MY$ after retracing back towards the RM 1.62+ main uptrend support levels over the past week, was able to hold its ground as a higher low region and broke out all the way towards the RM 1.75+ regions today with huge volume and buying momentum.
So far looking very strong and healthy on an uptrend here on the daily chart. As long as it's able to sustain above its RM 1.65+ immediate support, could continue on towards and beyond the RM 1.80++ regions soon for an uptrend continuation pattern.
Will be monitoring ECOWLD closely here.
$NOTION(0083.MY$ since retracing back towards the RM 1.90+ main support levels, had been able to hold well and breakout today back towards the RM 2.13 regions with good volume and buying momentum.
So far looking quite strong and ripe here for a potential uptrend continuation pattern towards and beyond the RM 2.30++ major resistance levels in the coming week itself.
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