General Notes For Wednesday [5/7/2023]:

$KLSE-KLCI closed red today around the 1392 points region on the daily chart with an overall mixed market sentiment as we still saw quite a few stocks closing red for the day. Total daily trading volume settled around the 2.6 billion range, which is pretty average.

Main stocks that showed strong buying momentum would be the likes of NAIM, WCEHB, UEMS, SFPTECH, GCAP, and MRCB. All of which were able to sustain their buying momentum throughout the day on the top volumes list.

Star for the day would definitely be $NAIM / 5073 (NAIM HOLDINGS BERHAD) as it managed to rally all the way towards its RM 0.90 major resistant levels with huge volume today after breaking out from its RM 0.70 major resistant levels like butter.

NAIM came quite close towards reaching its limit up price of RM 0.945 today and although it wasn't able to close around the RM 0.90 levels, its closing price of RM 0.885 was still a pretty bullish sign here.

If able to hold, may continue on towards the RM 0.90 - RM 1+ zones soon for a parabolic rally. Something big could be brewing here behind the scenes here for NAIM.

$SFPTECH / 0251 (SFP TECH HOLDINGS BERHAD) on the other hand also performed quite well as it managed to breakout and rally all the way towards the RM 1.07 levels with good volume. However, it did sustain some selling pressure towards closing which saw the stock close back towards the RM 1 level.

So far it's quite obvious that the stock is facing huge selling pressure above the RM 1 zones but as long as able to hold above its RM 0.98 - RM 1 immediate support levels on the daily chart as a higher low, could continue on towards the RM 1.07 - RM 1.10+ zones soon in the coming weeks.

Congratulations to those of you that earned a good profit from SFPTECH as per my earlier trading plans. I've taken all my profits today and will definitely be monitoring for another entry opportunity soon.

$CYPARK / 5184 (CYPARK RESOURCES BERHAD) since breaking out from its RM 0.665 main resistant levels on the daily chart earlier last month, had been trending up quite well here, forming a potential higher low support around the RM 0.70 zones.

For now could be ripe for a further continuation towards and beyond the RM 0.77 major resistant levels to test the RM 0.88 major resistance in the coming week until the next pullback kicks in.

Will be monitoring CYPARK closely