Titan Trading Notes For Thursday [14/3/2024]:
Although KLCI retraced back towards the 1538 points region, our market sentiment was still able to remain positive in general here. Daily trading volume also remained at a healthy level of around 4.17 billion.
Main stocks that showed strong buying momentum would be the likes of SENDAI, SENDAI WA, MICROLN, CTOS, SPSETIA, ASB, ECONBHD, RENEUCO, MINETEC, SIMEPROP, MYEG, EKOVEST, UEMS, MBSB, E&O, and IWCITY. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SENDAI(5205.MY$ was definitely the best performer today as it managed to breakout all the way towards the RM 0.395 regions with huge volume and buying momentum here, going on a huge parabolic rally.
Definitely looking very strong now and as long as able to hold above its immediate support around the RM 0.32+ regions, could continue on towards the RM 0.40+ regions tomorrow.
Definitely the best performer now but do be cautious when chasing high as it hasn't made any pullbacks yet.
$ECONBHD(5253.MY$ although retraced back towards the RM 0.365+ support levels over the past 2 trading days, was able to gap up and breakout strong all the way towards the RM 0.44 regions with huge volume.
For now looking very strong here and as long as able to sustain above its RM 0.40 immediate support levels, could continue on beyond the RM 0.45+ regions for a bullish continuation pattern.
Will be monitoring ECONBHD closely here as still trending up nicely.
$JTGROUP(0292.MY$ over the past few months, had been consolidating within a huge symmetrical triangle consolidation pattern here with RM 0.34 as the main resistance levels without much volume and action.
Today, it was able to breakout strong from its RM 0.34 regions and test its all time high at RM 0.35 today with huge volume and buying momentum. So far looking very strong here and could be ripe for a new uptrend continuation pattern soon.
Will be monitoring JTGROUP closely to see how far it can go here.
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