Titan Trading Notes for Tuesday [8/10/2024]
KLCI managed to rebound back towards the 1635 points region with an overall positive market sentiment today. Daily trading volume however settled only around the 2.7 billion mark, which isn't really a good sight to see.
Main stocks that showed strong buying momentum would be the likes of ARMADA, VELESTO, BAHVEST, SIMEPROP, TOPGLOV, 99SMART, LHI, GTRONIC, MRDIY, PERDANA, HENGYUAN, and NOTION. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ARMADA (5210.MY)$ was able to breakout back towards the RM 0.515 regions with huge volume and buying momentum today, breaking out from its RM 0.51+ main downtrend resistance levels after a few months of downtrend.
For now looking quite strong here and as long as able to sustain above its RM 0.51 immediate support levels, could continue on towards and beyond its RM 0.54+ major resistance levels soon in the coming weeks.
Will be monitoring ARMADA closely as something big seems to be brewing here.
$BAHVEST (0098.MY)$ on the other hand was able to breakout strong from its RM 0.72+ major resistance levels and rallied all the way towards the RM 0.78+ levels with huge volume and buying momentum here despite being overbought.
For now looking quite strong here and as long as able to sustain above its RM 0.74+ immediate support levels, could continue on towards and beyond its RM 0.80++ regions soon in the coming weeks.
Will be monitoring BAHVEST closely here.
$RGB (0037.MY)$ on the other hand also looking quite strong here as after retracing all the way back towards forming a huge support region around the RM 0.35 - RM 0.37+ main support levels over the past few months, was able to breakout strong towards the RM 0.41+ regions today.
So far, it's looking quite strong here and ripe for an uptrend continuation pattern. As long as RGB is able to hold above its RM 0.39+ immediate support, could continue to trend up towards the RM 0.45+ major resistance levels soon.
Will be monitoring RGB closely here.
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