Titan Trading Notes For Tuesday [9/7/2024]
KLCI had a brief retracement back towards the 1611 points region with an overall mixed market sentiment during last Friday as we still saw around 670 counters closing red for the day along with it. Daily trading volume settled around the 4.3 billion mark, which is still ok for now.
Main stocks that showed strong buying momentum would be the likes of NOVAMSC, SNS, ORGABIO, PERDANA, GOCEAN, YBS, MSTGOLF, SIAB, UUE, SCGBHD, MIKROMB, and CABNET. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.
$ORGABIO.MY$ since its earlier breakout towards the RM 0.46+ major resistance levels, had been retracing and consolidating over the past 2 months here with RM 0.37+ as its mains support levels.
On Friday, it was able to stage a huge breakout from its RM 0.45+ major resistance levels and rallied all the way towards the RM 0.50 regions with huge volume and buying momentum here, suggesting a strong uptrend continuation pattern.
Will be monitoring ORGABIO closely here as something big seems to be brewing.
$YBS.MY$ on the other hand also had a huge breakout from its RM 0.82+ major resistance levels with huge volume, rallying all the way towards the RM 0.96 regions here despite being overbought.
For now definitely looking very strong here and as long as able to sustain above its RM 0.90+ immediate support levels, could continue on towards and beyond the RM 0.96+ regions for an uptrend continuation pattern.
Will be monitoring YBS closely here to see how far it can go.
$AWC.MY$ since breaking out towards the RM 1.19 regions, had been retracing over the past 1- 2 months here with RM 1+ as the main support levels and last week, was able to breakout from its RM 1.05+ immediate downtrend resistance with good volume and buying momentum.
For now looking quite strong here and as long as able to hold above its RM 1 - RM 1.04 immediate support levels as a higher low, could continue on towards and beyond its RM 1.20+ regions soon for an uptrend continuation pattern.
Will be monitoring AWC closely here
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