Titan Trading Notes For Friday [25/10/2024]:
$KLCI retraced back towards the 1632 points region with an overall negative market sentiment as we saw over 700 counters closing red along with it for the day. Daily trading volume dipped back towards the 2.6 billion mark, which isn't really a good sight.
Main stocks that showed strong buying momentum would be the likes of NICE, YEWLEE WA, SCABLE, CYPARK, BAHVEST, IHH, TANCO, YEWLEE, and MRDIY. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.
$NICE / 7139 (NICHE CAPITAL EMAS HOLDINGS BERHAD) so far looking quite strong here as able to breakout towards the RM 0.20 major resistance levels today with good volume and buying momentum despite being overbought here on the daily chart.
For now as long as able to sustain above its RM 0.175+ immediate support, could continue on towards and beyond the RM 0.20+ regions soon for a bullish continuation pattern soon.
Will be monitoring NICE closely here.
$CYPARK / 5184 (CYPARK RESOURCES BERHAD) on the other hand was definitely the star performer today as it was able to breakout strong from its RM 0.725 major resistance levels, rallying all the way back towards the RM 0.80+ regions with huge volume and buying momentum.
For now looking very strong here and as long as able to hold above its RM 0.78+ immediate support levels, could continue on towards and beyond the RM 0.85+ major resistance levels soon.
Will be monitoring CYPARK closely here as something big seems to be brewing.
$KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD) since retracing back towards the RM 1.85+ major support levels earlier this month, had been able to regain momentum and hold above its RM 2.05+ support levels well over the past 2 weeks here on the daily chart.
For now as long as able to hold a higher low region here, could breakout from its RM 2.20+ main downtrend resistance levels on the daily chart for a new uptrend rally soon in the coming weeks.
Will be monitoring KOSSAN closely