Titan Trading Notes For Wednesday [19/6/2024]:
KLCI retraced today back towards closing red around the 1606 points region with an overall negative market sentiment as we saw over 760 counters closing red for the day along with it. Daily trading volume however remained healthy around the 5.9 billion mark.
Main stocks that showed strong buying momentum would be the likes of ATAIMS, K1, MYEG, NOVAMSC, PELIKAN, AIMFLEX, DNEX, TECHBND, SEDANIA, NOTION, AZRB, TM, SCGBHD, and LBS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ATAIMS(8176.MY$ had a huge rally today after breaking out from the RM 0.36 major resistance, rallying all the way towards the RM 0.54 regions with huge volume and buying momentum here out of nowhere.
For now, looks like it's starting to be in the midst of a parabolic rally here and as long as able able to sustain above its RM 0.48+ immediate support levels, could continue on towards and beyond the RM 0.54+ major resistance levels for a parabolic continuation pattern.
Will be monitoring ATAIMS closely here to see what's going on.
$SCGBHD(0225.MY$ had been trending upwards over the past month here since breaking out from its RM 0.685+ major resistance levels, rallying all the way towards the RM 1.04 regions today with good volume and buying momentum despite being overbought.
For now as long as able to hold above its RM 0.98+ immediate support levels on the hourly charts, could continue on towards and beyond the RM 1.04+ regions for an uptrend continuation pattern in the coming weeks as it's still not showing any weakness here yet.
Will be monitoring SCGBHD closely here to see how far it can go.
$DNEX(4456.MY$ since breaking out towards the RM 0.525 regions, had been retracing over the past few days and able to form a solid base around its RM 0.48+ regions on the daily chart here today.
Looks like it's formed its higher low regions already on the daily chart and could be breaking out towards the RM 0.525+ regions soon in the coming weeks for an uptrend continuation pattern.
$NOTION(0083.MY$ definitely was one of the best performers today as managed to breakout strong all the way towards the RM 1.98 regions with huge volume and buying momentum despite the weak market sentiment and Bursa's UMA Query on it after lunch.
Although it did take a brief hit from panic sellers, it managed to rebound well from its RM 1.82+ main support levels on the hourly charts and closed green at RM 1.96. For now still looking very strong here and could breakout from its RM 2+ major resistance levels soon.
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