Titan Trading Notes For Tuesday [6/2/2024]:
KLCI retraced back towards the 1511 points region with an overall negative market sentiment as we saw over 600 counters closing red along with it on the daily chart. Daily trading volume was relatively low too as we settled around the 3.22 billion mark.
Main stocks that showed strong buying momentum would be the likes of BJLAND, GENM, KJTS, TANCO, and TOPGLOV. All of which were able to sustain their buying momentum throughout the day on the top volumes list despite the weak market sentiment.
$BJLAND(4219.MY$ after retracing over the past week from its RM 0.48 regions, was finally able to rebound from its RM 0.37+ major support level back towards the RM 0.39+ regions with good volume and buying momentum today despite the weak sentiment.
Seems to have formed its higher low regions here already and if able to sustain and breakout from its RM 0.39 - RM 0.40+ resistance levels, could breakout back towards and beyond its RM 0.43 - RM 0.45+ major resistance levels soon for an uptrend continuation pattern soon.
Will be monitoring BJLAND closely here.
$KJTS(0293.MY$ since its IPO last week, had been able to sustain a very strong buying momentum as it broke out all the way towards the RM 0.595 levels, forming a new all time high here with good volume.
Although it wasn't able to close on its new high, its closing price at RM 0.53 was still a pretty good sign here and as long as able to hold above its RM 0.515 support, could continue trending upwards the RM 0.555+ regions soon here.
Something seems to be brewing here and will be monitoring KJTS closely.
$UNIQUE(0257.MY$ was definitely one of the best performers today as it managed to breakout from its RM 0.375 all time high regions and went all the way towards the RM 0.395 level with good volume and buying momentum today.
For now looking very bullish here and if able to sustain this kind of buying momentum, could be breaking out from its RM 0.40+ regions soon here for a stronger rally soon in the coming days.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
