Titan Trading Notes For Friday [8/11/2024]:

After a brief rally from the day before when Trump won the elections, $KLCI retraced back towards the 1623 points region today with an overall bearish market sentiment as we still saw over 640 counters closing red for the day. Daily trading volume settled around the 3.77 billion mark, which is still pretty decent if able to sustain this amount.

Main stocks that showed strong buying momentum would be the likes of 3REN, EKOVEST, INARI, SDCG, SORENTO, TANCO, SCIB, and MKHOP. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$3REN / 0328 (3REN BERHAD) after its strong debut yesterday, was able to resume its buying momentum and broke out all the way towards the RM 0.47 regions, forming a new high once more despite the weak market sentiment here with good volume and buying momentum.

So far looking quite strong here and as long as able to hold above its RM 0.435+ immediate support levels, could continue on towards and beyond the RM 0.47 all time high levels soon for a bullish continuation pattern.

Will be monitoring 3REN closely here as the IPO theme runs strong.

$INARI / 0166 (INARI AMERTRON BERHAD) since breaking out towards the RM 2.90+ regions from the day before, was able to carry forward this buying momentum and rallied all the way towards the RM 3.20+ regions with huge volume and buying momentum today.

This came after a 3-4 month long retracement since breaking out towards the RM 4.01 all time high levels during July. For now looking quite strong here and as long as able to hold above its RM 3.10+ immediate support levels on the daily chart, could continue to trend up towards the RM 3.30 - RM 3.40+ regions soon.

Will be monitoring INARI closely

$HUPSENG / 5024 (HUP SENG INDUSTRIES BERHAD) after announcing a record high earning from its latest QR and declaring 3 cents of dividend, was able to gap up and broke out all the way towards the RM 1.20 regions with good volume and buying momentum today.

Although it faced some selling pressure which saw the stock close back towards the RM 1.14 regions, it's still looking quite good here and as long as able to hold above this region, could trend back up towards the RM 1.20+ regions once more for an uptrend continuation pattern.

Will be monitoring HUPSENG closely