Titan Trading Notes For Tuesday [2/4/2024]
KLCI had a good breakout towards the 1544 points region with an overall positive market sentiment today as market continued its rally. Daily trading volume remained average around the 3.18 billion mark.
Main stocks that showed strong buying momentum would be the likes of ZANTAT, SIMEPROP, EMCC, ARTRONIQ, ALPHA, SSB8. E&O, SEALINK, LAYHONG, PANDA, SMETRIC, and CTOS. All of which were able to sustain their rallies throughout the day on the top volumes list.
$ZANTAT(0301.MY$ definitely was the main star performer today after consolidating around its RM 0.38+ regions over the past few days since its IPO. but was able to breakout all the way towards the RM 0.49 regions for a new all time high.
For now looking very strong here and as long as able to sustain above its RM 0.45+ immediate support levels, could continue on towards the RM 0.50+ regions soon in the coming week.
Will be monitoring ZANTAT closely here to see how far it can go.
$EMCC(0286.MY$ since breaking out towards the RM 0.53 all time high levels, had been retracing and consolidating over the past week here, forming a solid support region around the RM 0.48 levels on the daily chart.
Today, was able to breakout strong back towards its RM 0.53 regions once more to test its all time high. For now as long as able to sustain above its RM 0.505 immediate support, could continue on towards and beyond its all time high levels for a bullish continuation pattern.
Will be monitoring EMCC closely as seems to be on a very strong uptrend here.
$TEXCYCL(0089.MY$ since breaking out towards the RM 0.99 regions, had been retracing over the past week here with RM 0.90+ as the main support levels and today, was able to breakout back towards the RM 0.975 regions with good volume.
So far looking quite strong here and as long as able to hold above its RM 0.95+ immediate support, could continue on towards and beyond the RM 0.99 regions local high levels for a strong uptrend continuation pattern.
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