Titan Trading Notes For Thursday [5/12/2024]:

$KLCI had a decent rebound back towards the 1614 points region with an overall positive market sentiment today as most stocks started to rebound with huge volume. Daily trading volume was also able to surge back towards the 3.6 billion mark, which is a pretty good sign here.

Main stocks that showed strong buying momentum would be the likes of TOPGLOV, RL, ARMADA, CEB, SIMEPROP, YTL, 99SMART, YTLPOWR, KOSSAN, NATGATE, ECOWLD, JFTECH, PWRWELL, DIALOG, and SUPERMX. All of which were able to sustain their rallies throughout the day on the top volumes list.

$RL / 0219 (RESERVOIR LINK ENERGY BHD) was definitely one of the star performers today as it was able to breakout from its RM 0.37 major resistance, rallying all the way towards the RM 0.40 major resistance levels with huge volume and buying momentum here.

Although it was still met with some selling pressure, its closing price of RM 0.365 was still a pretty good sign here. For now as long as able to hold above its RM 0.35 - RM 0.36 immediate support, could still continue to trend back up towards the RM 0.4+ regions soon.

Will be monitoring RL closely here as something big seems to be brewing here.

$JFTECH / 0146 (JF TECHNOLOGY BERHAD) on the other hand was also one of the star performers as it managed to surge up parabolically, rallying all the way from the RM 0.56 levels towards the RM 0.71 regions with huge volume and buying momentum.

This came after its year long retracement from the RM 0.90+ regions all the way towards the RM 0.50 major support levels just earlier this week. For now looking quite strong here but could be facing its RM 0.75 major resistance levels soon.

Will be monitoring JFTECH closely here as seems to be awaken already after so long.

$YTLPOWR / 6742 (YTL POWER INTERNATIONAL BHD) since breaking out from its RM 3.65 major resistance levels yesterday, was able to sustain the buying momentum and broke out towards the RM 3.78 regions today with good volume and buying momentum.

So far still looking quite bullish here and as long as able to sustain above its RM 3.60+ immediate support on the daily chart, could continue on towards and beyond the RM 4+ major resistance levels soon for a further uptrend continuation pattern.

Will be monitoring YTLPOWR here.