Titan Trading Notes For Thursday [25/4/2024]:
KLCI had a good breakout today towards the 1571 points region with an overall positive market sentiment as we saw buying activities dominate the market. Daily trading volume was able to reach around the 4.2 billion mark, which is a pretty good sign too.
Main stocks that showed strong buying momentum would be the likes of MYEG, SIMEPROP, ZANTAT, DXN, RAMSSOL, SKPRES, SPSETIA, NOTION, UEMS, CUSCAPI, and KGW. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ZANTAT(0301.MY$ after retracing over the past 2 weeks from its RM 0.56 all time high levels, was able to form a stable base around its RM 0.46+ main support levels and was able to breakout from its RM 0.48 immediate downtrend, rallying all the way towards the RM 0.51+ regions.
For now looking quite strong here to continue on its uptrend as long as able to hold above its RM 0.48+ immediate support, could continue on towards and beyond the RM 0.53 - RM 0.55+ regions soon in the coming week.
Will be monitoring ZANTAT closely here to see how far it can go.
$NOTION(0083.MY$ after breaking out towards the RM 0.56 regions, had been retracing and consolidating over the past 1-2 months here without much volume and action, forming a solid support level around the RM 0.45+ regions.
Over the past few weeks, it was able to bounce back strong from this RM 0.46 support and today, was able to breakout all the way towards the RM 0.55 major resistance levels with good volume and buying momentum.
NOTION definitely at least in a short term uptrend here and as long as able to hold above its RM 0.50+ immediate support levels, could continue on towards and beyond the RM 0.56 major resistance. Will be monitoring NOTION closely.
$SIGN(7246.MY$ was definitely one of the best performers today as it managed to gap up early in the morning and rallied all the way towards the RM 1.15 regions with huge volume and buying momentum here on the daily chart.
Its closing price at RM 1.13 was still a pretty good sign here and as long as able to sustain above its RM 1.08 immediate support levels, could continue on towards and beyond the RM 1.20 major resistance levels soon for a new uptrend wave.
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104423482 : TQ info