Titan Trading Notes For Monday [29/4/2024]:
KLCI had a good breakout towards the 1575 points region with an overall positive market sentiment as we close for the week. Daily trading volume settled around the 4.1 billion mark, which is pretty good for now.
Main stocks that showed strong buying momentum would be the likes of MYEG, CAPITALA, YTL, YTLPOWR, DATAPRP, ATAIMS, TAS, RGB, TANCO, AAX, SIMEPROP, and ZANTAT. All of which were able to sustain their rallies throughout the day on the top volumes list.
$MYEG(0138.MY$ after retracing and consolidating over the past year without much volume and action, was able to breakout strong from its RM 0.82+ major resistance levels and rallied all the way towards the RM 0.92+ levels with huge volume and buying momentum.
For now looking extremely bullish here and if able to sustain this kind of buying momentum, could be headed towards a parabolic rally to the RM 1+ regions soon in the coming weeks.
Will be monitoring MYEG closely as I believe something big is brewing here.
$ATAIMS(8176.MY$ after retracing and consolidating over the past year from its RM 0.395 local peak, seems to be ready for another wave up here as it was able to breakout strong from its RM 0.31+ main downtrend resistance levels with huge volume and buying momentum.
So far still looking quite strong here and if able to sustain this kind of buying momentum, could continue on a new uptrend and breakout towards the RM 0.335 - RM 0.35+ major resistance levels soon in the coming weeks.
Will be monitoring ATAIMS closely.
$EPICON(4847.MY$ since forming a solid base around its RM 0.40+ main support levels, had been able to rebound quite strongly towards the RM 0.45+ regions over the past week here with increasing volume and buying momentum.
For now looking quite strong here and as long as able to sustain above its RM 0.43+ immediate support levels, could continue on towards and beyond the RM 0.495 major resistance levels soon for a bullish continuation pattern.
$MTEC(0295.MY$ performed quite well as it was able to form a solid support around its RM 0.90+ major support levels over the past few weeks and broke out strong from its RM 0.98+ main downtrend resistance levels and rallied all the way towards the RM 1.02 levels.
For now looking quite bullish here and as long as able to sustain above its RM 0.98+ immediate support levels, could continue on towards and beyond the RM 1.07 - RM 1.10+ major resistance levels soon for an upcoming uptrend continuation pattern.
Will be monitoring MTEC closely here to see how far it can go.
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