Titan Trading Notes For Tuesday [16/4/2024]:
KLCI took a hit, retracing back towards the 1542 points region today with an overall negative market sentiment as we saw almost 1000 stocks closing red for the day after news of Iran firing missiles at Israel. Daily trading volume reached 4.27 billion, which is still quite decent here.
Main stocks that showed strong buying momentum would be the likes of SENDAI, PMHLDG, PMETAL, HBGLOB, PERDANA, INTA, and THETA. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SENDAI(5205.MY$ was definitely one of the best performers today as it managed to breakout all the way towards the RM 0.375 regions with good volume and buying momentum here despite the panic selling activities.
This came after a breakout from its RM 0.30 immediate downtrend resistance levels over the past week. Since then, it had been climbing up nicely here and as long as able to sustain this kind of buying momentum, could be testing its RM 0.40 - RM 0.45+ regions soon.
Will be monitoring SENDAI closely here as something big could still be brewing.
$PMHLDG(1287.MY$ on the other hand also had been able to breakout strong from its RM 0.19+ immediate downtrend resistance and rallied all the way back towards the RM 0.205 regions with good volume and buying momentum.
Since breaking out towards the RM 0.28 regions, had been retracing and consolidating over the past 2 months here with RM 0.18+ as the main support levels here and if able to sustain, looks quite ripe for a potential uptrend continuation pattern towards the RM 0.24+ regions soon.
Will be monitoring PMHLDG closely as seems to be forming a strong uptrend.
$EPICON(4847.MY$ despite retracing back towards the RM 0.45+ immediate support levels this morning, was able to form a strong higher low region there and rebounded swiftly back towards the RM 0.475 regions today with good volume and buying momentum.
For now looking quite strong here despite the weak market sentiment and as long as able to sustain, could be breaking out from its RM 0.495 major resistance levels soon for an uptrend continuation pattern soon.
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