Titan Trading Notes For Wednesday [12/6/2024]:
Despite KLCI retracing briefly back towards the 1611 points region, we still enjoyed an overall positive market sentiment today as we reached a daily trading volume of near 7 billion today. So far everything is looking quite good here as many stocks rallied.
Main stocks that showed strong buying momentum would be the likes of HM, JCY, SNS, YNHPROP, EKOVEST, SMART, JTGROUP, JAKS, IWCITY, MRCB, LBS, DNEX, MPAY, SCABLE, UCREST, TM, CENSOF, PMHLDG, SCGBHD, and SALCON. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SNS(0259.MY$ after retracing and consolidating over the past few weeks, was able to form a higher low region around the RM 0.60+ support levels here and today, broke out from its RM 0.70 previous all time high and rallied all the way towards the RM 0.755 regions.
For now looking very bullish here and as long as able to sustain above its RM 0.70 immediate support levels, could continue on towards and beyond the RM 0.77+ regions in the coming weeks for an uptrend continuation pattern.
Will be monitoring SNS closely here to see how it develops.
$YNHPROP(3158.MY$ since breaking out from its RM 0.525+ major resistance earlier this week, had been rallying all the way towards the RM 0.89 regions today with huge volume and buying momentum here.
For now still looking very strong here and as long as able to sustain above its RM 0.75+ immediate support levels, could continue on towards and beyond the RM 0.89+ major resistance levels for a stronger breakout.
Will be monitoring YNHPROP closely as something big seems to be brewing here.
$FPHB(0304.MY$ since retracing back towards the RM 0.515+ immediate support levels earlier this week, was able to breakout strong from its RM 0.55 previous all time high levels with good volume, rallying all the way towards the RM 0.59 region, forming a new high here.
Overall still looking quite strong and as long as able to hold above its RM 0.55+ immediate support levels, could continue on towards and beyond the RM 0.59+ regions in the coming weeks here for a stronger uptrend continuation pattern.
$NOTION(0083.MY$ since retracing back towards the RM 1.40+ main support levels over the past few weeks, had been able to breakout strong from its RM 1.50+ major resistance levels and rallied all the way towards the RM 1.65 regions today, forming a new local high.
For now as long as able to hold above its RM 1.57 immediate support, could continue on towards and beyond the RM 1.70+ regions in the coming weeks for an uptrend continuation pattern.
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