General Notes For Tuesday [5/12/2023]:

$KLSE-KLCI closed red around the 1451 points region today with an overall negative market sentiment as more than 590 counters closed red along with it for the day. Daily trading volume also remained around the 3.1 billion range, which isn't that great.

Main stocks that showed strong buying momentum would be the likes of SCIB, PANDA, WCEHB, IMPIANA, MERSEC, and BAHVEST. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.

$WCEHB / 3565 (WCE HOLDINGS BERHAD) since breaking out from its RM 0.775 immediate downtrend resistance, had been breaking out all the way towards the RM 0.845 levels today with huge volume on the daily chart.

This came after a 2 month long consolidation around the RM 0.74+ levels as the main support region with relatively lower volume. Seems to have formed its higher low regions already and could be breaking out beyond the RM 0.85+ levels very soon here.

Will be monitoring WCEHB closely here as it seems to be in a long term uptrend.

MERSEC on the other hand since breaking out from the RM 0.30 major resistance, had been trending upwards quite strongly over the past 2 months, breaking a new all time high at RM 0.39 today with good volume.

For now, it's very overbought here but still not showing any sign of weakness yet. That said, chasing in at this price would carry a big deal of risk as it could pullback anytime towards the RM 0.36 - RM 0.375 levels first.

Will be monitoring MERSEC here, uptrend is looking very healthy.