Titan Trading Notes For Monday [28/10/2024]:
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ retraced back towards the 1618 points region with an overall negative market sentiment as we still saw over 650 counters closing red along with it during last Friday. Daily trading volume remains low around the 2.4 billion mark, whish isn't a good sight.
Main stocks that showed strong buying momentum would be the likes of IOIPG, NATGATE, ELRIDGE, YEWLEE, SDCG, and IHH. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market.
$IOIPG (5249.MY)$ since retracing back towards the RM 2.20+ main support levels last week, had been able to rebound strong back towards the RM 2.30+ regions with good volume and buying momentum during last Friday.
So far looking quite strong here and as long as able to sustain this kind of buying momentum, could trend back up towards the RM 2.40++ regions soon in the coming weeks for an uptrend continuation pattern.
Will be monitoring IOIPG closely here as seems to be trending up strong.
$NATGATE (0270.MY)$ on the other hand since breaking out from its RM 1.90+ major resistance levels last week, had been able to hold well above that level and rallied all the way towards the RM 2++ regions with huge volume and buying momentum.
So far looking quite ripe for a potential uptrend continuation pattern here towards the RM 2.20+ regions. As long as able to hold above its RM 1.90 support, could continue on this breakout.
Will be monitoring NATGATE closely.
Although the property sector had been slowing down, $MAHSING (8583.MY)$ had been recovering quite well over the past few weeks, breaking out towards the RM 1.84 regions on Friday with good volume and buying momentum.
So far seems to have formed its higher low regions already with RM 1.72+ as the main support levels on the daily chart. For now as long as able to sustain, could trend back up towards the RM 1.97 major resistance levels soon.
Will be monitoring MAHSING closely here as seems to be recovering quite well.
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