General Notes For Thursday [28/12/2023]:

$KLSE-KLCI rebounded back towards the 1454 points region with an overall positive market sentiment today as the entire market started to rebound after weeks of cold movement. Daily trading volume settled around the 3.2 billion range, which is pretty decent.

Main stocks that showed strong buying momentum would be the likes of SCABLE, ZELAN, SCIB, MERSEC, RENEUCO, PRTASCO, EATECH, PARKSON, LANDMARK, SALUTE, and YTLPOWR. All of which were able to sustain their rallies throughout the day on the top volumes list.

While the market may be looking into hot penny stocks with high volume, I'm actually looking closely at the healthcare sector, with $TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) as my benchmark for the overall theme.

Over the past 2 weeks, it had been holding quite well above the RM 0.885+ immediate support regions on the daily chart here with relatively less volume, suggesting a low volume pullback.

If a higher low region can be formed here for TOPGLOV, it could breakout from the RM 0.955 immediate resistance levels soon for a potential breakout back towards and beyond its RM 1.02+ major resistance levels in the coming week.

Will be monitoring TOPGLOV and the overall healthcare industry in general.

$BIOHLDG / 0179 (BIOALPHA HOLDINGS BERHAD) will be the laggard healthcare stock that I'm monitoring as since its earlier breakout towards the RM 0.11 - RM 0.12 regions, it had been consolidating quite well and holding above the RM 0.10+ regions on the daily chart.

For now looking quite stable here as a higher low being formed and if able to hold, could continue its breakout back towards and beyond the RM 0.11+ major resistance levels soon for an uptrend continuation pattern.

MINOX was definitely one of our best performers today as it managed to hold quite well above its RM 0.275+ immediate support regions over the past few days and even broke out towards the RM 0.30 major resistance levels today with good volume.

For now as long as able to hold above its RM 0.28 immediate support regions, could breakout from the RM 0.30 major resistance to test the RM 0.315+ regions very soon in the coming weeks if the buying momentum is still able to sustain.