General Notes For Tuesday [29/8/2023]:

$KLSE-KLCI closed slightly red around the 1444 points region with an overall mixed market sentiment was we still had over 470 counters closing red for the day. Daily trading volume however soared back towards the 4.4 billion range, which is very impressive.

Stocks that dominated the top volumes list were mostly bullish, and these were occupied by the likes of EKOVEST, IWCITY, UEMS. MRCB, VELESTO, E&O, PERDANA, SPSETIA, YTLPOWR, YTL, SIMEPROP, BPLANT, ASB, ECONBHD, ARMADA, NAIM, HIAPTEK, IJM, and SUNWAY. All of which were able to sustain their rallies throughout the day on the top volumes list.

$KLSE-E&O was definitely one of the star performers for today as it managed to sustain its rally from last week and went all the way back towards the RM 0.60 levels with huge volume.

Although it wasn't able to close on its intraday high of RM 0.60, its closing price at RM 0.595 was still a pretty good sign and if able to sustain this kind of buying momentum, could rally back towards the RM 0.675+ levels soon in this week itself.

E&O definitely in a parabolic rally here and will be monitoring closely. I believe institution money is behind this huge and sudden surge in share price.

$NAIM / 5073 (NAIM HOLDINGS BERHAD) performed very well today since breaking out from its RM 0.77 main symmetrical triangle pattern, rallying strong all the way towards the RM 0.89+ levels today with huge volume.

Although it wasn't able to close on its intraday high, its closing price of RM 0.885 was still a pretty good sign here and could continue on towards and beyond the RM 0.945+ major resistance levels soon in the coming week itself.

CLOUDPT on the other hand performed quite weak today as it retraced all the way below its RM 0.60 support and closed red around its RM 0.585 major support levels on both the hourly and daily charts.

Since breaking out towards the RM 0.65+ levels, it had been retracing over the past month without much action and volume here. For now needs to be able to hold above its RM 0.585 support and if so, could rebound back towards the RM 0.63+ levels.

Otherwise, could retrace further back towards the RM 0.55 - RM 0.565+ levels soon. Will be monitoring CLOUDPT closely here