Titan Trading Notes For Thursday [22/2/2024]:

$KLSE-KLCI had a brief retracement back towards the 1552 points region with an overall negative market sentiment as we had over 650 counters closing red for the day. Daily trading volume settled around the 3.65 billion mark, which is still a pretty good sign here in terms of volume.

Main stocks that showed strong buying momentum would be the likes of RENEUCO, LAYHONG, PBBANK, LHI, KPJ, MTEC, and JETSON. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$LAYHONG / 9385 (LAY HONG BERHAD) definitely was one of the best performers today as it broke out all the way towards the RM 0.36 regions here with good buying momentum and volume here since breaking out from its RM 0.34+ major resistance levels on the daily chart.

For now as long as able to hold above its RM 0.34+ immediate support levels, could start a brand new uptrend here and continue on towards and beyond its RM 0.385 - RM 0.40+ major resistance zones soon for a bullish continuation pattern.

Will be monitoring LAYHONG closely here to see how this develops.

MTEC despite being quite overbought here, was still able to breakout and form new highs today towards the RM 0.485 regions despite the weak market sentiment with good volume and buying momentum.

For now still not showing any sign of weaknesses yet and as long as able to hold above its RM 0.455+ immediate support, could continue to trend up towards the RM 0.50 - RM 0.525+ regions soon for an uptrend continuation pattern.

Will be monitoring MTEC closely. Seems to be on a strong uptrend here.

$NAIM / 5073 (NAIM HOLDINGS BERHAD) since breaking out from its RM 0.85+ main downtrend resistance, had been trending upwards nicely here over the past 2 days and today, was able to breakout towards the RM 0.90+ regions here with good volume and buying momentum.

So far not showing any signs of weakness yet and if able to sustain, could continue on towards and beyond its RM 0.925 - RM 0.95+ major resistance levels for a strong uptrend continuation pattern.

Will be monitoring NAIM closely.