Titan Trading Notes For Monday [27/5/2024]:

$KLSE-KLCI had a brief retracement back towards the 1619 points region with an overall negative market sentiment as we saw over 840 counters closing red along with it. Daily trading volume remained healthy around the 5.6 billion mark.

Main stocks that showed strong buying momentum would be the likes of AHB, SNS, JCY, SIMEPROP, FAJAR, SSB8, CAPITALA, NOTION, DNEX, INARI, EDELTEQ, MICROLN, FEYTECH, and KGW. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.

$JCY / 5161 (JCY INTERNATIONAL BERHAD) was definitely one of the best performers for last week as it managed to breakout from its RM 0.36+ major resistance and rallied all the way towards the RM 0.485 major resistance levels with huge volume and buying momentum last week.

For now looking quite strong here and as long as able to sustain above its RM 0.415+ immediate support levels on the daily chart, could continue on towards and beyond the RM 0.485 - RM 0.50+ major resistance levels soon to continue its parabolic rally.

Will be monitoring JCY closely here as the buying momentum is extremely strong.

$EDELTEQ / 0278 (EDELTEQ HOLDINGS BERHAD) on the other hand also had a surprising breakout from its RM 0.42+ major resistance and rallied all the way towards its RM 0.50 major resistance levels here with huge volume and buying momentum.

For now looking very strong here and as long as able to sustain above its RM 0.42+ immediate support levels, could continue on this major trend reversal back towards its RM 0.52 - RM 0.55+ regions soon in the coming weeks.

I believe this surge of demand was largely due to its decent QR results recently. Will be monitoring EDELTEQ closely here.

ADB since consolidating over the past 1-2 months with RM 0.95+ as the main support levels, was finally able to breakout from its RM 1.04 local high regions and rallied all the way towards the RM 1.07 level with good volume and buying momentum during last Friday.

For now looking very bullish here and as long as able to sustain above its RM 1.02 immediate support, could continue on towards and beyond the RM 1.07+ regions to test the RM 1.10+ levels soon.