Titan Trading Notes For Tuesday [20/8/2024]:

$KLSE-KLCI had a huge rally today, breaking out all the way towards the 1648 points region with the banking sector lifting the entire index up. Overall market sentiment however was mixed as we still saw almost 550 counters closing red for the day. Daily trading volume remained average around the 3.89 billion mark.

Main stocks that showed strong buying momentum would be the likes of TOPGLOV, PBBANK, MBSB, SPSETIA, CIMB, RHBBANK, MUIPROP, MAYBANK, HARTA, AMBANK, SIME, SFPTECH, and HUBLINE. All of which were able to sustain their rallies throughout the day on the top volumes list.

$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) , following the MPOX outbreak and declared as an emergency, gapped up and rallied all the way towards the RM 1.03 regions with huge volume and buying momentum today.

For now still remaining in a downtrend here but as long as able to sustain the buying momentum, the MPOX outbreak could serve as a catalyst for glove stocks like TOPGLOV, potentially bringing it back towards the RM 1.15+ regions in the coming weeks.

These few days, will be quite crucial for TOPGLOV here to see if it's able to sustain the buying momentum.

$MBSB / 1171 (MALAYSIA BUILDING SOCIETY BERHAD) since breaking out towards the RM 0.90+ regions, had been retracing over the past few months here, heading all the way back towards the RM 0.73+ major support levels earlier this month.

Since them, had been able to bounce back very strongly and today, broke out from its RM 0.835+ main downtrend resistance with huge volume, breaking out towards the RM 0.86+ regions today.

Will be monitoring MBSB closely here as seems to be starting back an uptrend here.

$PERDANA / 7108 (PERDANA PETROLEUM BERHAD) since retracing back towards the RM 0.37+ major support levels earlier this month, had been able to climb back up strong towards the RM 0.45+ regions on the daily chart.

For now looking quite strong and healthy on an uptrend here. As long as able to sustain above its RM 0.435+ main support levels, could continue on to trend up towards and beyond the RM 0.50+ regions in the coming weeks.

Will be monitoring PERDANA closely here