Titan Trading Notes For Monday [1/4/2024]:
KLCI had a decent rebound back towards the 1536 points region with an overall positive market sentiment as our overall market started to rebound. Daily trading volume however remained at a modest level of only around 3 billion.
Main stocks that showed strong buying momentum would be the likes of SSB8, VS, VELESTO, TCS, ZANTAT, SPSETIA, CIMB, MRCB, PKJ, ALPHA, MUHIBAH, ARTRONIQ, and NCT. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SSB8(0045.MY$ after consolidating over the past few years, was finally able to breakout from its RM 0.235+ major resistance levels and rallied all the way towards the RM 0.35 major resistance levels with huge volume and buying momentum here.
For now looking very strong and not showing any sign of weaknesses at all. As long as able to hold above its RM 0.32+ immediate support levels, could continue on towards and beyond its RM 0.38 - RM 0.40+ major resistance levels soon for an uptrend continuation pattern.
Something big could be brewing behind SSB8 here and will be monitoring closely.
$VS(6963.MY$ on the other hand despite posting weaker QR results, was able to breakout very strongly from its RM 0.835+ major resistance levels and rallied all the way towards the RM 0.88 levels with strong buying momentum and volume.
For now looking ripe for an uptrend continuation pattern here as long as able to hold above its RM 0.835 immediate support levels, could continue on towards the RM 0.91 - RM 0.935+ regions soon in the coming week.
Will be monitoring VS closely here.
$MTEC(0295.MY$ since breaking out towards its RM 1.19 all time high levels, had been retracing over the past 2 weeks all the way towards its RM 0.90+ main uptrend support levels and last week, was able to rebound back towards the RM 1 regions.
For now seems to be forming a higher low pattern and as long as able to sustain above its RM 0.97+ immediate support levels, could continue to breakout back towards its RM 1.10 - RM 1.15+ levels soon.
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