Titan Trading Notes For Wednesday [9/10/2024]:
KLCI closed green around the 1635 points region today with an overall positive market sentiment as we started to rebound after 2 weeks of selling activities. Daily trading volume settled around the 3.2 billion mark, which is pretty average for now.
Main stocks that showed strong buying momentum would be the likes of 99SMART, MRCB, WCT, IFCAMSC, JCY, SPSETIA, MRDIY, SIMEPROP, and PBBANK. All of which were able to sustain their rallies throughout the day on the top volumes list.
$99SMART (5326.MY)$ was definitely the star performer today as it was able to breakout all the way towards the RM 2.47 regions with huge volume and buying momentum, forming a new all time high here despite being overbought.
For now still looking very strong here and as long as ablet o hold above its RM 2.35+ immediate support levels, could continue on towards and beyond its RM 2.47 all time high levels for a bullish continuation pattern.
Will be monitoring 99SMART closely here as still looking very strong.
$IFCAMSC (0023.MY)$ since breaking out from its RM 0.64+ main downtrend resistance levels from the day before, was able to carry forward its buying momentum today, breaking out all the way towards the RM 0.74++ regions with huge volume and buying momentum here.
So far looking very ripe for an uptrend continuation pattern after 4-5 months of retracement and consolidating activities. For now as long as able to hold above its RM 0.65+ immediate support, could continue on towards the RM 0.785+ major resistance levels soon.
Will be monitoring IFCAMSC closely
$VLB (0273.MY)$ on the other hand after retracing back towards the RM 0.50+ main support levels just on the day before, was able to breakout strong all the way towards the RM 0.565 regions with huge volume and buying momentum here.
Seems to have formed its higher low regions already over the past few weeks and as long as able to hold above its RM 0.53+ immediate support, could continue on towards and beyond its RM 0.595 all time high regions for an uptrend continuation pattern soon.
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