Titan Trading Notes For Monday [25/3/2024]:
KLCI rebounded briefly back towards the 1542 points region with an overall mixed market sentiment as we still had over 540 counters closing red for the day. Daily trading volume was able to close above the 5 billion mark, which is a pretty good sign here still.
Main stocks that showed strong buying momentum would be the likes of SPSETIA, PMHLDG, SCABLE, SIMEPROP, MRCB, SUNCON, CYPARK, PWRWELL, INTA, ECOWLD, and GFM. All of which were able to sustain their rallies throughout the day on the top volumes list.
$PMHLDG(1287.MY$ since breaking out towards the RM 0.28 regions, had been retracing and consolidating over the past few weeks here with RM 0.175+ as the main support levels.
Seems to have formed its higher low regions already as it was able to breakout back towards the RM 0.22 resistance levels here and so far as long as able to hold above its RM 0.20 support, could continue to breakout back towards the RM 0.235+ regions soon for an uptrend continuation pattern.
Will be monitoring PMHLDG closely here.
$SIMEPROP(5288.MY$ since breaking out from its RM 0.80+ resistance levels, had been breaking out over the past week here rallying all the way towards the RM 0.885 regions with good volume and buying momentum.
For now as long as able to hold above its RM 0.84 support, could continue on towards and beyond its RM 0.90+ major resistance levels for an uptrend continuation pattern. If unable to breakout, could retrace back towards its RM 0.80+ support levels for a pullback soon.
SIMEPROP definitely looking pretty healthy for an uptrend here and will be monitoring it closely.
$WENTEL(0298.MY$ since consolidating over the past month here without much volume and action, was able to breakout strong all the way towards forming a new high around the RM 0.37 regions last week with huge volume and buying momentum.
On Friday, it was still able to sustain above its RM 0.345+ immediate support levels and as long as able to hold here as a higher low region, could continue on towards and beyond its RM 0.37 all time high levels to form a new high soon on this uptrend.
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