Titan Trading Notes For Monday [26/2/2024]:

Although $KLSE-KLCI had a decent rebound back towards the 1549 points regions, our market sentiment in general was still quite bearish as we still had over 600 counters closing red for the day. Daily trading volume settled around the 4 billion mark, which is still decent here.

Main stocks that showed strong buying momentum would be the likes of PWRWELL, YTL, YTLPOWR, E&O, SIMEPROP, PUC, SIME, SUNWAY, LAYHONG, and IWCITY. All of which were able to sustain their rallies throughout the day on the top volumes list.

$YTL / 4677 (YTL CORPORATION BERHAD) after retracing over the past 1-2 months from its RM 2.50 regions, was definitely one of the best performers during last Friday as it managed to breakout back towards the RM 2.47 regions with huge volume and buying momentum here.

for now as long as able to hold above its RM 2.30+ immediate support regions, could continue on towards and beyond the RM 2.50 - RM 2.60+ major resistance levels soon in the coming week itself.

Will be monitoring YTL closely here to see how this goes. So far despite showing a head and shoulders pattern, was able to surprise us all with a strong breakout.

$LAYHONG / 9385 (LAY HONG BERHAD) definitely on a strong parabolic rally here as it managed to breakout from its RM 0.365+ major resistance levels here and rallied all the way towards the RM 0.39 regions with huge volume and buying momentum.

For now as long as able to sustain above its RM 0.365 immediate support regions, could continue on towards the RM 0.40 - RM 0.425+ major resistance levels soon for a parabolic rally continuation pattern soon.

Will be monitoring LAYHONG closely here to see how this goes as something big cloud be brewing behind the scenes.

$NAIM / 5073 (NAIM HOLDINGS BERHAD) since breaking out from its RM 0.85+ main downtrend resistance, had been holding quite well above its immediate support regions over the past week here despite the weak market sentiment.

For now as long as able to hold above its RM 0.85+ immediate support as a higher low, could continue on towards and beyond the RM 0.925+ major resistance levels soon in the coming weeks here for an uptrend continuation pattern.