General Notes For Friday [22/9/2023]

$KLSE-KLCI closed back towards the 1448 points region today, ending on a negative note and along with it, were almost 550 counters closing red today. Overall market sentiment was definitely a negative one.

Daily trading volume stood around the 3.24 billion range, which is just average. Main stocks that showed strong buying momentum would be the likes of E&O, WCEHB, CYPARK, ATAIMS, and BINACOM. All of which were able to sustain their rallies throughout the day on the top volumes list.

$CYPARK / 5184 (CYPARK RESOURCES BERHAD) was definitely one of the star performers for the week. Since breaking out from its RM 0.80 immediate resistance levels, had been rallying up very strong with huge volume, and even broke out back towards the RM 1.05 levels today.

Looking quite overbought now and approaching the RM 1.05+ main resistance levels on the daily chart now. If unable to breakout strong, could retrace back towards the RM 0.975+ support regions to form a higher low first before rallying further up.

Will be monitoring CYPARK closely here as it could be on a new parabolic rally.

$WCEHB / 3565 (WCE HOLDINGS BERHAD) on the other hand although had been retracing over the past 1-2 months all the way back towards the RM 0.625+ levels, was able to gain good buying momentum over the past 2 weeks, rebounding strong even even broke out from the RM 0.75+ major resistance levels.

Today, it rallied towards the RM 0.80 levels with good volume despite being slightly overbought on the daily chart. Definitely looking pretty ripe for a potential bullish continuation pattern here after consolidating over the past 2-3 months without much action.

Could be on a very strong uptrend here and will be monitoring WCEHB closely.