Titan Trading wrote a post · Nov 27, 2024 02:39

Titan Trading Notes For Wednesday [27/11/2024]:

$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had a slight rebound back towards the 1603 points region with an overall mixed market sentiment as we saw over 580 counters closing red for the day. Daily trading volume dropped back towards the 2.5 billion mark, which isn't really a good sight.

Main stocks that showed strong buying momentum would be the likes of 3REN, IHH, YTL, KPJ, PHARMA, TOPGOLV, YTLPOWR, and YEWLEE. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$3REN (0328.MY)$ broke out with pretty huge volume, rallying towards the RM 0.42+ regions today despite the mixed market sentiment with very strong buying momentum. This came after it retraced over the past few weeks from its RM 0.49 all time high levels.

For now although unable to close on its intraday high, as long as able to sustain above its RM 0.39+ immediate support, could continue to trend up towards the RM 0.43 - RM 0.45+ major resistance levels soon.

Will be monitoring 3REN closely here as seems to be trending up strong.

$YTLPOWR (6742.MY)$ on the other hand since retracing back towards the RM 2.83+ major support levels, was able to hold well and rebounded strongly since then, even breaking out from its RM 3.20+ regions today with huge volume.

For now still facing strong selling pressure around its RM 3.25 main downtrend resistance. However, with YTLPOWR releasing earnings of a 40% drop QOQ, not sure how will the market react in the coming few days.

Will have to monitor YTLPOWR closely here as it's facing its crucial downtrend resistance levels here.

$PLYTEC (0289.MY)$ since retracing all the way back towards the RM 0.34+ major support levels over the past 2 weeks, had been able to recover quite well and broke out from its RM 0.39 all time high levels, closing on its new all time high at RM 0.395 with good volume and buying momentum.

So far looking very strong here and as long as able to sustain above its RM 0.375+ immediate support levels, could continue on towards the RM 0.40++ regions for a bullish continuation pattern.

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Cuhai88 : It's almost going to collapse, and still go in?

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Titan Trading OP Cuhai88 : which one?

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