Titan Trading Notes For Friday [24/5/2024]:
KLCI had a good rebound back towards the 1629 points region with an overall positive market sentiment today with a healthy trading volume of around 6.1 billion. Market was able to rebound quite swiftly after just 1 day of pulling back.
Main stocks that showed strong buying momentum today would be the likes of SNS, KNM, PERDANA, ZANTAT, MYEG, REVENUE, SIMEPROP, PA, AVI, TOPGLOV, PWRWELL, JCY, PANDA, AGES, IFCAMSC, SUNWAY, ASTRO, PMHLDG, BPURI, RGB, EMCC, YTL, SIME, VS, and MBSB. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SNS(0259.MY$ was definitely the star performer today, since being able to breakout from its RM 0.515+ major resistance levels, it rallied all the way towards the RM 0.68 regions with huge volume and buying momentum, forming a new all time high here.
For now still looking very bullish here and as long as able to sustain above its RM 0.585 immediate support, could continue on towards and beyond the RM 0.68+ regions for a bullish continuation pattern.
Will still be monitoring SNS closely here to see how far it can go as still looking very strong.
$ZANTAT(0301.MY$ after consolidating over the past 2 months with RM 0.48+ as the main support levels on the hourly and daily charts, was able to form a solid support region and broke out strong from its RM 0.51+ major resistance levels today.
After this breakout, it rallied all the way towards the RM 0.61 regions to form a new all time high level here. For now looking very strong here for an uptrend continuation pattern and as long as able to sustain above its RM 0.55+ immediate support, could continue stronger.
Will be monitoring ZANTAT closely here as something big seems to be brewing here.
$SIGN(7246.MY$ after breaking out towards the RM 1.53 regions, had been retracing over the past week back towards its RM 1.38+ immediate support levels on the hourly charts and was able to rebound nicely today back towards its RM 1.53 major resistance.
For now although unable to breakout from its RM 1.53 regions yet, its closing price of RM 1.50 was still a pretty good one here and as long as able to sustain above its RM 1.46+ immediate support, could continue on towards and beyond the RM 1.53+ regions for an uptrend continuation pattern.
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