Titan Trading Notes For Wednesday [26/6/2024]:
KLCI closed red around the 1585 points region with an overall negative market sentiment as we still saw more than 830 counters closing red for the day along with it. Daily trading volume remained decent around the 5.2 billion mark here, which is still healthy.
Main stocks that showed strong buying momentum today would be the likes of YGL, MYEG, MAHSING, and TANCO. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$MYEG(0138.MY$ since breaking out towards the RM 1.15 regions, had been retracing over the past 2 weeks back towards its RM 0.98+ major support levels recently and today, was able to breakout strong back towards its RM 1.04 levels with good volume and buying momentum.
Seems to have formed its higher low region here already and if able to sustain above its RM 1+ immediate support levels, could continue to trend back towards and beyond its RM 1.07+ major resistance levels soon for an uptrend continuation pattern.
Will be monitoring MYEG closely here as may continue to head up if able to sustain its buying momentum.
$MAHSING(8583.MY$ since its earlier breakout towards the RM 1.90 regions, had been retracing over the past few weeks here, heading back all the way towards its RM 1.62+ main support levels only to rebound strong today and closed green at RM 1.75.
Despite the weak market sentiment, MAHSING seems to be showing strong buying momentum here. For now as long as able to hold above its RM 1.70+ immediate support levels, could continue on towards and beyond its RM 1.80+ regions for an uptrend continuation pattern.
Will be monitoring MAHSING closely here.
$INFOTEC(0253.MY$ since retracing all the way back towards its RM 0.70+ main support levels, had been able to gain good traction and broke out all the way towards the RM 0.965 regions today with good volume and buying momentum despite the weak market sentiment.
For now looking quite strong here and as long as able to hold above its RM 0.90+ immediate support levels, could continue on towards and beyond its RM 0.965+ major resistance levels to potentially test the RM 1+ regions soon too.
Will be monitoring INFOTEC closely as seems to be starting its new uptrend here.
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