Titan Trading Notes For Wednesday [8/5/2024]:
KLCI had a huge breakout towards the 1605 regions, closing green today with an overall very positive market sentiment. Daily trading volume also reached high at 5.4 billion mark, which is a pretty good sign here.
Main stocks that showed strong buying momentum would be the likes of ICONIC, SNS, RENEUCO, EKOVEST, SIMEPROP, SENDAI, MRDIY, RANHILL, IOIPG, UEMS, MRDIY, CUSCAPI, IWCITY, GDB, CENSOF, and SSB8. All of which were able to sustain their rallies throughout the day on the top volumes list.
$SNS(0259.MY$ still performed well today as it was able to breakout towards the RM 0.515 regions with good volume and buying momentum despite being massively overbought here on the daily chart.
For now as long as able to sustain above its RM 0.455+ immediate support level, could continue on towards and beyond the RM 0.50 - RM 0.515+ major resistance levels soon in the coming weeks for an uptrend continuation pattern.
Will still be monitoring SNS closely for an entry opportunity here as still looking very strong.
$UEMS(5148.MY$ since breaking out towards the RM 1.24 regions, had been retracing and consolidating over the past 2 months here with RM 1.05+ as the main support levels here on the daily chart.
Recently seems to have formed a higher low base and today, was able to breakout towards the RM 1.15+ regions with good volume and buying momentum here. So far still looking healthy on an uptrend
Will be monitoring UEMS closely.
$CPETECH(5317.MY$ since breaking out towards the RM 1.38 regions, had been retracing and consolidating over the past few weeks, forming a solid higher low region around the RM 1.25+ regions on the daily chart.
For now still looking quite strong here as it was able to breakout back towards the RM 1.33 regions. As long as able to sustain above its RM 1.30 immediate support, could continue on towards and beyond the RM 1.38 all time high for a bullish continuation pattern.
Will be monitoring CPETECH closely here
$UNIQUE(0257.MY$ had a good breakout from its RM 0.28+ major resistance levels with good volume and buying momentum today, going all the way towards the RM 0.295 regions after 2 months of consolidation with RM 0.25+ as the main support level.
For now as long as able to sustain above its RM 0.28+ immediate support levels on the daily chart, could continue on a brand new uptrend towards the RM 0.31 - RM 0.335+ regions soon in the coming weeks.
Will be monitoring UNIQUE closely
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