Titan Trading Notes For Wednesday [14/8/2024]:
Although KLCI resumed its rebound back towards the 1609 points region, the overall market sentiment was negative as we still saw over 700 counters closing red for the day. Daily trading volume was also pretty low with only around 3.4 billion today.
Main stocks that showed strong buying momentum would be the likes of NOVAMSC, SUNWAY, PGLOBE, VLB, MUIPROP, and SIMEPROP. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$PGLOBE (3611.MY)$ over the past 2 days was definitely one of the best performers. Since breaking out from its RM 0.315+ major resistance levels, rallied all the way towards the RM 0.395 level today with huge volume and buying momentum.
So far looking very strong here despite being overbought on the daily chart. Could be starting a brand new uptrend here and as long as able to sustain above its RM 0.35+ main support levels, could continue on towards the RM 0.40+ regions soon.
Wil be monitoring PGLOBE closely.
$NOVAMSC (0026.MY)$ since breaking out from its RM 0.20 main downtrend resistance, had been able to sustain its buying momentum and rallied towards the RM 0.23 regions with good volume today despite the weak market sentiment.
For now as long as able to sustain above its RM 0.21+ immediate support levels on the daily chart, could continue on this uptrend towards and beyond the RM 0.24+ regions soon in the coming weeks.
Will be monitoring NOVAMSC closely here as something big seems to be brewing here.
$SDS (0212.MY)$ on the other hand since breaking out from its RM 1 major resistance levels earlier last week, had been able to sustain quite well and rebounded back towards the RM 1.07 regions today with good volume and buying momentum.
For now looking quite strong here for an uptrend continuation pattern. As long as able to sustain above its RM 1 main support levels, could breakout towards and beyond the RM 1.11 all time high levels in the coming weeks.
Will be adding SDS into my watchlist and monitoring it closely.
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