Titan Trading Notes For Wednesday [3/4/2024]:
KLCI resumed its rally back towards the 1547 points region with an overall mixed market sentiment as we had over 510 counters closing red for the day. Daily trading volume however was able to spike back up towards the 4.5 billion mark, which is a pretty good sign.
Main stocks that showed strong buying momentum would be the likes of AZRB, SNS, ZANTAT, PANDA, EMCC, NCT, MINETEC, TOPGLOV, SENDAI, MINOX, YTLPOWR, VS, M&G, and CTOS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SNS (0259.MY)$ after consolidating for over the past year, was able to breakout strong from its RM 0.255+ major downtrend resistance last month and since then, had been rallying up over the past few weeks.
Today, it stole the show by breaking out all the way towards its RM 0.35 regions ,forming a brand new all time high with huge volume and buying momentum here despite being massively overbought.
for now looks like something big could be brewing behind SNS here and will be monitoring it closely.
$MINOX (0288.MY)$ since its IPO last year, had been retracing and consolidating over the past few months here and formed a solid support region around its RM 0.24+ major support levels on the daily chart.
Today, it was able to have a strong breakout from its RM 0.27 main downtrend resistance which saw the stock rally all the way towards the RM 0.285 major resistance levels. So far looking quite strong here and could continue on towards the RM 0.30 major resistance levels soon if able to sustain.
Will be monitoring MINOX closely
$NATGATE (0270.MY)$ since breaking out from its RM 1.50+ main downtrend resistance, had been able to hold quite well above it over the past week here on the daily chart and even started to rebound back towards the RM 1.57 regions today.
for now seems to have formed a higher low pattern already and if able to sustain, could continue on towards and beyond its RM 1.62+ major resistance levels soon to test the RM 1.70 regions in the coming weeks.
NATGATE so far looks like a pretty healthy uptrend here and will be monitoring it closely.
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