General Notes For Friday [1/12/2023]:

$KLSE-KLCI was finally able to rebound today back towards the 1452 points region with an overall mixed sentiment as we still had over 620 counters closing red for the day. Daily trading volume however was able to hit a staggering 4.2 billion, which is pretty good.

Main stocks that showed strong buying momentum would be the likes of SCIB, DCHCARE, CDB, RENEUCO, and SIME. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed sentiment.

$SCIB / 9237 (SARAWAK CONSOLIDATED INDUSTRIES BERHAD) shares had been trending upwards in a parabolic manner since March around the RM 0.12+ major support levels, towards breaking out to RM 0.77+ today with huge volume despite being massively overbought.

Although I have no idea why its share price had been trending upwards in such a manner over the past few months, I have to acknowledge its incredible buying momentum and volume...so far still not showing any sign of weakness yet.

Will definitely be monitoring SCIB here but for any entries, have to be extremely careful as the stock barely retraced.

$RGB / 0037 (RGB INTERNATIONAL BHD) although attempted to breakout from its RM 0.31 immediate resistance levels over the past few days, miserably failed as it was met with huge selling pressure which led the stock to retrace back towards the RM 0.29 levels today.

RGB had broken below its main uptrend channel support here and could be heading back towards the RM 0.275 - RM 0.28 major support levels in the coming weeks if this sell down continues.

So far not looking that great here for RGB, and have to monitor with caution if you are planning any entries as it is still a fundamentally good company.

$SKBSHUT / 7115 (SKB SHUTTERS CORPORATION BERHAD) since its earlier breakout towards the RM 0.75 major resistance levels, had been retracing over the past 2 weeks here, all the way towards the RM 0.585 - RM 0.60+ major support levels on the hourly charts.

So far forming strong BOD signals here on the 4 hour chart, suggesting an immediate dip region already and if able to hold this support level, could at least stage a rebound back towards the RM 0.66+ immediate resistance levels soon.

Will be monitoring SKBSHUT closely

Expecting the market to cool off for the coming 1-2 weeks so still gotta be patient here.