Titan Trading Notes For Wednesday [29/5/2024]:
KLCI retraced today towards the 1615 points region with an overall negative market sentiment as we saw over 820 counters closing red for the day along with it too. Daily trading also saw a dip back towards the 4.8 billion mark as sellers took over.
Main stocks that showed strong buying momentum today would be the likes of GHLSYS, SMART, REVENUE, CAPITALA, TANCO, GCB, EATECH, PARKSON, and PESONA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.
$GHLSYS(0021.MY$ had a huge breakout towards the RM 1.08 regions today with good volume and buying momentum after consolidating over the past few weeks with RM 0.90+ as the main support levels.
For now still trending upwards quite healthily here and as long as able to sustain above its RM 1+ immediate support levels, could continue on towards and beyond the RM 1.10+ regions soon for an uptrend continuation pattern.
Will be monitoring GHLSYS closely here.
$EATECH(5259.MY$ after taking a huge hit all the way back towards the RM 0.32+ major support levels yesterday, was able to rebound briefly towards the RM 0.355 regions today with good volume and buying momentum here.
For now as long as able to sustain above its RM 0.32+ main support levels on the daily chart as a higher low, could rebound further towards and beyond the RM 0.36+ major resistance levels soon in the coming weeks.
Will be monitoring EATECH closely here as it's still en route towards exiting its PN17 status.
$RGB(0037.MY$ since breaking out towards the RM 0.46 major resistance levels, had been retracing over the past few trading days here back towards the RM 0.415+ main support levels on the daily chart region.
For now seems to be able to hold quite well here and may rebound back towards the RM 0.44 - RM 0.45+ major resistance levels soon for an uptrend continuation pattern soon in the coming week.
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