Titan Trading Notes For Wednesday [14/2/2024]:
KLCI had a huge breakout back towards the 1530+ regions today with an overall positive market sentiment as we resume trading from our CNY break. Daily trading volume however seems muted as we settled for only around 2.1 billion today.
Main stocks that showed strong buying momentum would be the likes of ATAIMS, BJLAND, CIMB, DESTINI, ECONBHD, EKOVEST, GAMUDA, IHH, IJM, IWCITY, JAKS, JETSON, REDTONE, SCIB, and SEPSETIA. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ATAIMS (8176.BMS)$ after a 2 month long retracement from its RM 0.33+ resistance levels, was finally able to form a solid support around the RM 0.255 - RM 0.26+ regions over the past few weeks and today, was able to breakout strongly back towards its RM 0.29+ regions.
So far still down trending here but as long as able to hold above its RM 0.275+ immediate support, could bounce back further towards the RM 0.315 - RM 0.335+ main downtrend resistance levels soon.
Will be monitoring ATAIMS closely here.
$BJLAND (4219.BMS)$ after consolidating over the past week around its RM 0.375+ support levels, was able to breakout strong from its RM 0.40+ immediate resistance levels to test its RM 0.42 regions today with good volume and buying momentum.
Seems to have formed its higher low regions already here and as long as able to hold above its RM 0.40+ immediate support, could continue to trend up towards the RM 0.435 - RM 0.45+ regions soon for a bullish continuation pattern.
Will be monitoring BJLAND closely here as something could be brewing behind the scenes.
$ENGTEX (5056.BMS)$ continued to perform well today as it managed to breakout towards the RM 1.08 regions with good volume and buying momentum here despite being overbought on the daily chart over the past week.
For now as long as able to hold above its RM 1.03+ immediate support, could continue its uptrend rally towards and beyond its RM 1.10+ regions soon in the coming weeks here as it's still not showing any signs of slowing down yet.
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