Titan Trading Plan for Tuesday [6/8/2024]
KLCI took its biggest loss today since the COVID crash during 2020, retracing over 74 points with an overall super bearish market sentiment as we saw a record high of 1659 counters closing red along with it. Daily trading volume also soared towards a new yearly high towards the 9.2 billion mark, unfortunately, mostly dominated by selling activities.
It's quite sad to say that after writing trading notes for over the past 3-4 years, there were no stocks that performed well today on the top volumes list. The whole market was in a panic selling mode with the Nikkei wiping off almost 30% from its peak in just a span of 2-3 weeks.
$NOTION.MY$ on the other hand also took a huge hit, retracing all the way back towards the RM 1.67+ major support levels, only to rebound slightly back towards closing around the RM 1.75 regions during closing.
So far seems to be forming a decent mid term higher low region here and with its announcement of over RM 20 million in net profit during the evening from its latest QR, I believe it should be able to serve as a catalyst for NOTION.
However, key concerns right now are still the weakening market sentiment. So will have to monitor it closely.
$YTLPOWR.MY$ since breaking out towards the RM 5.40+ regions, had been retracing over the past month here and today, finally broke down below the RM 4 major support levels and closed around the RM 3.98 regions.
So far looking quite oversold here on the daily chart and if unable to rebound back above the RM 4+ regions, could retrace back further towards the RM 3.65+ major support levels on the daily chart.
I believe this price range for YTLPOWR is quite attractive here and will be monitoring it closely.
$CEB.MY$ despite already retracing back towards the RM 0.67+ new low regions already, broken below it and retraced all the way back towards the RM 0.545 region with huge selling activities, once again forming a new low.
Fundamentally speaking, CEB is looking quite attractive here with a PE of only around 11. So far as long as able to hold above its RM 0.545+ major support levels, could breakout from its RM 0.58 - RM 0.60+ major resistance levels for at least a technical rebound soon.
Will be monitoring CEB closely here as I believe it's almost reached its dip region already.
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