Titan Trading Notes For Wednesday [28/2/2024]:
KLCI had a good breakout towards the 1558 points region today with an overall mixed sentiment as we still had around 570 counters closing red for the day. Daily trading volume settled around the 3.8 billion mark, which is still decent for today's standards.
Main stocks that showed strong buying momentum would be the likes of PUC, YTL, YTLPOWR, RENEUCO, AVALAND, THETA, DIALOG, MAHSING, RANHILL, GENM, EMCC, MRDIY, and ECONBHD. All of which were able to sustain their rallies throughout the day on the top volumes list.
$YTL (4677.BMS)$ still going strong here as it managed to break towards the RM 2.73 regions today, forming a new all time high with huge volume and buying momentum despite being overbought here.
Since breaking out from its RM 2.30+ immediate downtrend resistance, had been trending upwards quite nicely here over the past few trading days. For now not showing any signs of weaknesses yet, and could continue on towards the RM 3+ regions soon if able to sustain.
Will be monitoring YTL closely here for sure.
$MAHSING (8583.BMS)$ on the other hand also seems to be trending upwards quite nicely here as it managed to breakout from its RM 0.955 major resistance and rallied all the way towards the RM 0.97 regions with good volume.
Over the past few months, it had been trending upwards from its RM 0.775+ main support regions here on the daily chart slowly and if able to keep this kind of sentiment up, could be testing its RM 1+ major resistance levels very soon here.
Will be monitoring MAHSING closely as it seems to be on a brand new mid-long term uptrend.
$ENGTEX (5056.BMS)$ although retraced back towards the RM 1.16+ support levels today, was able to rebound back towards the RM 1.19 regions with good volume and buying momentum despite the mixed market sentiment.
For now seems to still be trending upwards quite strongly here and as long as able to hold above its RM 1.16+ immediate support, could continue to trend back towards the RM 1.23+ regions soon for an uptrend continuation pattern.
Will still be monitoring ENGTEX closely here as the trend does not seem to be over yet.
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