Titan Trading Notes For Friday [17/5/2024]:
KLCI had a good breakout back towards the 1611 points region with an overall positive market sentiment today. Daily trading volume also remained bullish around the 6 billion mark, which is a very good sign here.
Main stocks that showed strong buying momentum would be the likes of SNS, NOTION, MBSB, PA, PMHLDG, AEON, SENDAI, JIANKUN, PERDANA, AHB, EATECH, and MRDIY. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SNS(0259.MY$ after retracing over the past week back towards its RM 0.435+ main support levels, was able to gap up and breakout all the way back towards the RM 0.505 regions with huge volume and buying momentum today.
Its closing on its intraday high is a very strong sign here for an uptrend continuation pattern and as long as able to hold above its RM 0.475 immediate support levels, could continue on towards and beyond the RM 0.54+ all time high zones soon.
Will be monitoring SNS for an entry opportunity as I believe it's on a very strong uptrend.
$NOTION(0083.MY$ on the other hand also had a huge breakout after retesting its RM 0.545+ main support levels on the daily chart just a few days ago. It managed to breakout strong from its RM 0.635+ major resistance levels and rallied all the way towards the RM 0.84+ with huge volume and buying momentum here.
So far looking extremely bullish and as long as able to sustain above its RM 0.76 immediate support on the hourly charts, could continue on this parabolic rally here with barely any pullbacks.
Will be monitoring NOTION closely as something big seems to be brewing.
$ADB(0276.MY$ had a good breakout back towards the RM 1.01 regions with good volume and buying momentum, suggesting a potential bullish continuation pattern soon here after retracing and consolidating over the past month.
For now still looking quite strong despite not having huge volume yet, but I believe as long as able to sustain above its RM 0.99 immediate support, could continue on towards and beyond the RM 1.04 all time high levels soon.
Will be monitoring ADB closely here.
$EPICON(4847.MY$ after retracing over the past 2 weeks back towards its RM 0.41+ major support levels, had been able to breakout strong today towards the RM 0.45 regions with good volume and buying momentum.
Seems to have formed its higher low regions already and as long as able to sustain above its RM 0.43 immediate support levels, could continue to trend back up towards the RM 0.47 - RM 0.49+ major resistance levels soon.
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