Titan Trading Notes For Wednesday [5/6/2024]:
KLCI had a decent rebound today back towards the 1615 points region as our overall market started to recover from last week's sell off. Daily trading volume remains average around the 4.45 billion mark, which is nothing too special yet.
Main stocks that showed strong buying momentum would be the likes of JCY, SNS, BJCORP, DSONIC, KENERGY, ASTRO, PMETAL, DNEX, FAJAR, DIALOG, MAHSING, PBBANK, PWRWELL, IFCAMSC, LAGENDA, TECHNAX, SENDAI, CIMB, and NOTION. All of which were able to sustain their rallies throughout the day on the top volumes list.
$JCY (5161.MY)$ was definitely the star player for the day as it rallied all the way towards the RM 0.60 major resistance levels with huge volume and buying momentum here despite being overbought on the daily chart.
For now definitely on a parabolic rally here and as long as able to sustain above its RM 0.55+ immediate support levels, could continue on towards and beyond the RM 0.60+ regions soon.
Will be monitoring JCY closely as the HDD theme seems to be still going strongly and JCY is the leading one.
$SNS (0259.MY)$ after briefly retracing back towards its RM 0.58+ regions over the past week, had been able to form a stable base around its RM 0.60+ regions and today, was able to breakout towards the RM 0.67 major resistance levels.
For now looking very strong here still and as long as able to sustain above its RM 0.60+ immediate support, could continue on towards and beyond its RM 0.70+ all time high levels for an uptrend continuation pattern.
Will still be monitoring SNS closely as I'm expecting this stock to be in play for sometime.
$WENTEL (0298.MY)$ after consolidating over the past 2 months with RM 0.345+ as the main resistance levels on the daily chart, was finally able to breakout today all the way towards the RM 0.36 levels with good volume and buying momentum.
For now looking quite strong here and as long as able to hold above its RM 0.345 immediate support levels, could continue to trend back towards and beyond its RM 0.37 current all time high levels soon.
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甘妮纳 : Too bad, I don't have that much money to spare.
Otherwise, I'll really get rich