Titan Trading Notes For Friday [19/4/2024]:
KLCI had a decent rebound back towards the 1544 points region with an overall mixed market sentiment as we still saw almost 470 counters closing red for the day. Daily trading volume remained average around the 3.83 billion mark, which is nothing too special here.
Main stocks that showed strong buying momentum would be the likes of SENDAI, MINETEC, UNITRAD, YTL, CUSCAPI, ZANTAT, YTLPOWR, GHLSYS, TCS, and EDUSPEC. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SENDAI(5205.MY$ was definitely one of the best performers today as it was able to breakout back towards the RM 0.42 regions with good volume and buying momentum here despite the mixed market sentiment.
Since breaking out from its RM 0.30 major resistance levels over the past 2 weeks, it had been able to sustain this kind of buying momentum here and so far as long as able to sustain, could continue on towards the RM 0.46 major resistance levels soon.
Will be monitoring SENDAI closely here to see how far it can go.
$ZANTAT(0301.MY$ although retraced back towards the RM 0.46 main support levels over the past few days, had been able to hold as a higher low region and broke out towards the RM 0.50+ regions today with good volume and buying momentum.
For now , it seems to have broken out from its main downtrend resistance levels already and if able to sustain above its RM 0.48+ immediate support levels, could start to trend back up towards the RM 0.515 - RM 0.53+ regions soon in the coming weeks.
Will be monitoring ZANTAT closely here it's one of the strongest performing IPO themed stocks now.
$GDB(0198.MY$ had been retracing over the past week back towards its RM 0.27+ immediate support levels, had been able to rebound quite well over the past 2 trading days, even able to breakout back towards the RM 0.295 levels today.
For now looking quite strong here and as long as able to sustain above its RM 0.285+ immediate support levels, could continue on towards the RM 0.30 - RM 0.315+ regions soon for an uptrend continuation pattern.
Will be monitoring GDB closely.
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