Titan Trading Notes For Wednesday [18/12/2024]:

KLCI closed red today around the 1597 points region with an overall negative market sentiment as we saw over 700 counters closing red for the day along with it. Daily trading volume almost hit 3 billion but was mostly dominated by selling activities.

Main stocks that showed strong buying momentum would be the likes of PESTECH, ARMADA, ASTRO, MAYBANK, OMESTI, MEGAFB, HEXIND, and CABNET. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

Seems to have bottomed out already here. As long as able to hold above its RM 0.38+ support levels on the daily chart, could continue to trend back up towards the RM 0.50+ major resistance levels soon in the coming weeks.

Will be monitoring CABNET closely here as seems to be coming back strongly.

This is quite a bullish signal here considering how it's able to perform despite the weak market sentiment. Definitely on a strong uptrend wave here. As long as able to hold above its RM 0.64+ support, could trend back up towards the RM 0.70+ major resistance levels soon.

Will be monitoring ARMADA closely

Overall market seems to be pulling back here, but i believe the tech sector could be the next big thing here as it's been on a long downtrend over the past few years already. The recent huge rebound could be the first sign of an incoming larger recovery wave.

Will definitely be monitoring the tech sector here. Of course, we won't be expecting it to be a smooth ride, so still have to trade cautiously and prepare for a choppy move up.