Titan Trading Notes For Friday [29/11/2024]:

$KLCI closed red around the 1597 points region with an overall negative market sentiment today as we saw over 600 counters closing red for the day. Daily trading volume remains average around the 2.7 billion mark, which is nothing to shout about yet.

Main stocks that showed strong buying momentum would be the likes of GENETEC, JCY, YNHPROP, YTL, SCGBHD, JTIASA, MINOX, YTLPOWR, CEB, and CAPITALA. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$JCY / 5161 (JCY INTERNATIONAL BERHAD) since announcing a solid net profit of over RM 16 million in its latest quarter over the past 2 days, had been able to maintain strong buying momentum and volume here, even breaking out from its RM 0.42+ main downtrend resistance today.

It's looking quite strong here after over 6 months of constant selling activities since hitting the RM 0.93 local high levels. As long as able to hold above its RM 0.40 - RM 0.42 immediate support, could be the start of a major trend reversal soon ,potentially trending back up towards the RM 0.50+ regions here.

Will be monitoring JCY closely.

$YNHPROP / 3158 (YNH PROPERTY BERHAD) since breaking out from its RM 0.50+ major resistance levels, had been trending up over the past 2 weeks here, breaking out towards the RM 0.70 major resistance levels with good volume today.

So far not showing any signs of weakness yet and as long as able to sustain above its RM 0.64+ immediate support, could continue to trend up towards and beyond the RM 0.70+ major resistance levels for a bullish continuation pattern.

Will be monitoring YNHPROP closely as something big might be brewing here.

$HUPSENG / 5024 (HUP SENG INDUSTRIES BERHAD) since breaking out from its RM 1.16+ immediate downtrend resistance last week, had been able to sustain and broke out all the way towards the RM 1.29 regions with huge volume and buying momentum today.

So far looking very bullish here and as long as able to sustain above its RM 1.23+ immediate support, could continue to trend up towards the RM 1.30+ regions soon in the coming weeks here for an uptrend continuation pattern.

Will be monitoring HUPSENG closely.