Titan Trading Notes For Tuesday [9/4/2024]:
KLCI demonstrated resilience today, edging back towards the 1559 points region despite a mixed market sentiment. While over 510 counters closed in the red, the daily trading volume settling around 3.96 billion signifies decent market activity.
Main stocks that showed strong buying momentum would be the likes of SBH, SENDAI, NICE, DNEX, RGB, SPRING, AZRB, NCT, MRCB, MAHSING, and BAHVEST. All of which were able to sustain their rallies throughout the day on the top volumes list.
$RGB(0037.MY$ after consolidating over the past year here was finally able to breakout strong from its RM 0.325+ main downtrend resistance last week and rallied all the way towards the RM 0.36 regions today with huge volume and buying momentum here.
For now as long as able to hold above its RM 0.34 immediate support level, could continue on towards the RM 0.38 - RM 0.40+ regions soon for an uptrend continuation pattern soon.
Will be monitoring RGB closely here as something big seems to be brewing and it could be just the beginning of a new uptrend.
$SENDAI(5205.MY$ since breaking out towards the RM 0.455 regions, had been retracing and consolidating over the past month here without much volume and action, forming a solid support around its RM 0.27+ regions.
Today, was able to breakout from its RM 0.30+ immediate downtrend resistance and if able to hold, could breakout back towards the RM 0.335 - RM 0.35+ regions soon in the coming weeks here for an uptrend continuation pattern.
Will be monitoring SENDAI closely here.
$RL(0219.MY$ over the past week, had been slowly trending upwards since breaking out towards the RM 0.34 regions with good volume and buying momentum. For now, seems to have formed a solid support around its RM 0.32+ regions already on the daily chart.
If able to keep this kind of buying momentum up, could continue on towards and beyond its RM 0.34 major resistance levels in the coming few days to test its RM 0.355 levels soon.
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