Titan Trading Notes For Friday [29/3/2024]:
KLCI had a retracement and closed back towards the 1530 points region. With that, dragged along our overall market sentiment to be a negative one as we had over 640 counters closing red for the day along with it. Daily trading volume settled around the 3.7 billion mark, which is just average.
Main stocks that showed strong buying momentum would be the likes of ZANTAT, EKOVEST, IWCITY, UEMS, MAHSING, YTL, CTOS, NETX, and GCB. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$IWCITY(1589.MY$ after retracing and consolidating over the past few months with RM 0.73+ as the main support levels, had been able to recover quite well as it started to breakout back towards the RM 0.85+ regions.
For now looking quite strong here and as long as able to hold above its RM 0.82+ immediate support levels, could continue on towards testing its RM 0.885 - RM 0.90+ major resistance levels soon.
Will be monitoring IWCITY closely here.
$UEMS(5148.MY$ over the past months, seems to have formed a solid support region around its RM 0.96+ regions already as it was able to rebound strongly from that region and broke out all the way towards the RM 1.24 regions during Wednesday.
For now looking very strong for a bullish continuation pattern here and as long as able to hold above its RM 1.15 immediate support levels, could continue on towards the RM 1.30+ regions soon in the coming weeks.
Will be monitoring UEMS here as the property theme seems to be here to stay for sometime.
$JTGROUP(0292.MY$ since breaking out towards the RM 0.38 regions, had been consolidating over the past week here around its RM 0.355+ support levels and seems to be forming a higher low region here already.
For now if able to hold as a higher low region, could breakout back towards and beyond its RM 0.38 all time high zones soon for a potential bullish continuation pattern in the coming weeks.
Will be monitoring JTGROUP closely here
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103149339 : Every time you come out and talk about whether UEMS falls or falls below your support, the kind of hope you don't crow's mouth this time
103149339 : The second Ming Yuan stock market “beacon”