Titan Trading Notes For Friday [20/12/2024]:

KLCI had a slight rebound, closing green around the 1600 points region but the overall market sentiment was definitely a bearish one as we had almost 700 counters closing red for the day. Daily trading volume was able to surge back towards the 3.2 billion mark, which was pretty good.

Main stocks that showed strong buying momentum would be the likes of YTL, YTLPOWR, WINSTAR, TOPGLOV, SUPERMX, GENETEC, TANCO, CIMB, KPJ, and SIMEPROP. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

YTL and YTLPOWR without a doubt were the star performers for the day. This should not come as surprising since MACC cleared their case on the 1Bestarinet issue yesterday evening.

$YTL / 4677 (YTL CORPORATION BERHAD) was able to gap up and broke out from its RM 2.30 major resistance and rallied all the way towards the RM 2.55+ regions, breaking out strong from its EMA 200 resistance of RM 2.50 here with huge volume and buying momentum.

For now definitely looking very bullish here and if able to keep this up, could trend back up towards the RM 2.80+ major resistance levels in the coming weeks until its next pullback.

Will be monitoring YTL closely here as it looks poised for a potential huge recovery.

$YTLPOWR / 6742 (YTL POWER INTERNATIONAL BHD) on the other hand was also able to gap up strong and broke out from its RM 3.80+ main downtrend resistance and rallied all the way towards the RM 4.08 regions with huge volume and buying momentum.

Looking very bullish here and if able to sustain its buying momentum, could trend back up towards its RM 4.40+ major resistance levels in the coming weeks for an uptrend continuation pattern.

Will continue to monitor YTLPOWR closely here.

$CORAZA / 0240 (CORAZA INTEGRATED TECHNOLOGY BERHAD) n the other hand although retraced back towards the RM 0.50+ support levels this morning, was able to rebound strong to close green around the RM 0.545 regions with good volume and buying momentum.

It may have formed its higher low regions already over the past few days of retracement. If able to sustain above its RM 0.525 immediate support, could trend back up towards the RM 0.575 major resistance levels soon.

Will be monitoring CORAZA closely.