Titan Trading Notes For Friday [9/2/2024]:
Although KLCI closed red around the 1512 points region, the overall market sentiment today could be regarded as a pretty positive one as most stocks started to rebound. Daily trading volume remained low as it only settled around the 3.2 billion mark.
Main stocks that showed strong buying momentum would be the likes of BJLAND, EKOVEST, HEGRUOP, IJM, LEFORM, MRCB, MTEC, RENEUCO, SCIB, SUNWAY, UEMS, VELESTO, WENTEL, and WIDAD. All of which were able to sustain their rallies throughout the day on the top volumes list.
$BJLAND(4219.MY$ after retracing from its RM 0.48 regions, had been holding quite well above its RM 0.37+ main support levels over the past week here.
Seems to have formed its higher low regions already and if able to breakout from the RM 0.40+ major resistance, could start trending up back towards the RM 0.43 - RM 0.45+ regions soon for an uptrend continuation pattern.
Will be monitoring BJLAND closely here.
$ENGTEX(5056.MY$ despite retracing back towards the RM 0.97 immediate support levels, was able to breakout strong towards the RM 1.04 regions today with good volume and buying momentum here.
So far, still looking very strong here and as long as able to hold above its RM 1+ immediate support levels, could breakout towards the RM 1.10+ regions soon for a stronger uptrend continuation pattern.
Will be monitoring ENGTEX closely here.
$EPICON(4847.MY$ since retesting its RM 0.35+ major support levels over the past week, had been able to hold quite well and today, was able to rebound strong towards the RM 0.385+ regions with good volume and buying momentum here.
For now still mainly resisted around the RM 0.39 - RM 0.40 downtrend levels here but as long as able to hold above its RM 0.38+ immediate support, could breakout from this downtrend for an uptrend continuation back towards the RM 0.45 - RM 0.48+ regions in the coming weeks.
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