Titan Trading Notes For Wednesday [27/3/2024]
KLCI had a slight rebound back towards the 1538 points region with an overall mixed market sentiment as we still had over 470 counters closing red for the day. Daily trading volume remained average around the 3.82 billion region.
Main stocks that showed strong buying momentum would be the likes of SAPNRG, TCS, SPSETIA, MINETEC, MRCB, YNHPROP, TDM, ECONBHD, EMCC, TOPGLOV, JTIASA, MAHSING, and IJM. All of which were able to sustain their rallies throughout the day on the top volumes list.
$TCS(0221.MY$ was definitely the main star performer for the day as it managed to breakout all the way towards the RM 0.215 major resistance levels with huge volume and buying momentum.
This came after retracing over the past year since its RM 0.35+ regions. For now looking strong here and as long as able to hold above its RM 0.18 support, could continue on towards and beyond the RM 0.24+ regions soon for a bullish continuation pattern.
Will be monitoring TCS closely here to see how far it can go.
$ECONBHD(5253.MY$ since breaking out towards the RM 0.48 regions, had been consolidating over the past few weeks here and today, was able to breakout very strongly towards the RM 0.515 regions with huge volume and buying momentum.
For now looking very strong here for an uptrend continuation and as long as able to hold above its RM 0.0.48+ immediate support, could continue on towards the RM 0.535 - RM 0.55+ regions soon.
Will be monitoring ECONBHD closely.
$EDELTEQ(0278.MY$ had been consolidating over the past week here since breaking out towards the RM 0.38 levels here on the daily chart, seems to have formed its higher low regions around the RM 0.36+ levels already.
For now as long as able to hold above this region, could breakout back towards and beyond the RM 0.38 - RM 0.40+ major resistance levels soon to test the RM 0.42+ levels soon in the coming weeks.
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