KLCIhad a good breakout back towards the 1664 points regions with an overall positive market sentiment today after the past few weeks of selling down. Daily trading volume settled around the 3.1 billion mark, which is still average.
Main stocks that showed strong buying momentum today would be the likes ofTOPGLOV, SUPERMX, CAREPLS, KOSSAN, HARTA, MYEG, CIMB, WCT, IHH, MALAKOF, and MRCB.All of which were able to sustain their rallies throughout the day on the top volumes list.
$HARTA (5168.MY)$was definitely the star performer today after hitting its limit up price at RM 3.14. This came after the US government increasing its tariffs on Chinese goods. As such, glove manufacturers from Malaysia that has exposure in the US will benefit greatly from this.
For now looking quite strong here and as long as able to sustain above its RM 2.90 immediate support levels on the daily chart, could continue on a major trend reversal and start trending upwards to the RM 3.50+ levels soon.
Will be monitoring HARTA closely as they have the highest exposure in US among other glove companies.
$HTPADU (5028.MY)$on the other hand also hit its limit up price of RM 2.99, definitely another star player here after announcement of its contract from JPJ with a value of over RM 120 million.
Even after it hit limit up price, the company's market share capitalization is standing at around RM 330 million. As long as it's able to sustain above its RM 2.63 immediate support, could continue on towards and beyond its RM 3.10+ regions soon.
Will be monitoring HTPADU closely here.
$WCT (9679.MY)$on the other hand after retracing all the way back towards the RM 0.91+ major support levels over the past 2 weeks, had been able to form a stable base there and breakout from its RM 1.03 main downtrend resistance today.
For now looking very strong for an uptrend continuation pattern here as long as able to sustain above its RM 1+ regions, could continue on towards and beyond the RM 1.16+ regions soon.
Will be monitoring WCT closely
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more