Titan Trading Notes For Friday [16/8/2024]:

Although $KLSE-KLCI resumed its upward trajectory, closing green around the 1612 points region, our overall market sentiment was on a profit taking mode today with over 760 counters closing red for the day. Daily trading volume settled around the 3.5 billion mark, mainly dominated by selling activities.

Main stocks that showed strong buying momentum today would be the likes of TANCO, CIMB, and PBBANK. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$SPSETIA / 8664 (S P SETIA BERHAD) due to being burdened by the Battersea Power Station project as seen in the latest report, took a huge hit, retracing all the way below its RM 1.30 major support levels on the daily chart.

So far not looking so good short term wise due to this sudden influx of sellers. For now needs to hold above its RM 1.25+ main support levels here before we can expect a rebound. Otherwise, could start trending downwards or enter into a consolidation phase at a lower price.

Will have to be more cautious on SPSETIA.

GOHUB despite the weak market sentiment, was definitely one of the star performers today as it was able to breakout towards the RM 1.25+ regions with good volume and buying momentum.

For now looking very strong here on an uptrend. As long as it's able to hold above its RM 1.19+ immediate support levels on the hourly charts, will be expecting further upside here.

Will be monitoring GOHUB closely as I believe the uptrend remains strong.

$UNIQUE / 0257 (UNIQUE FIRE HOLDINGS BERHAD) despite taking quite a hit, retracing back towards the RM 0.405+ regions, was able to rebound back during closing, closing around the RM 0.42 regions with good volume.

So far still looking quite healthy here on its brand new uptrend breakout. As long as able to sustain above its RM 0.40+ main support levels on the daily chart, could continue on towards and beyond its RM 0.445 all time high levels soon.

Will be monitoring UNIQUE closely