Titan Trading Notes For Monday [23/12/2024]:

KLCI retraced back towards the 1591 points region with an overall mixed market sentiment on Friday as we saw over 550 counters closing red for the day along with it. Daily trading volume however was able to remain around the 3.3 billion mark, which is a pretty good sign.

Main stocks that showed strong buying momentum would be the likes of YTL, YTLPOWR, JCY, SCABLE, MYEG, GAMUDA, PESTECH, and SUNWAY. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$YTLPOWR / 6742 (YTL POWER INTERNATIONAL BHD) since breaking out towards the RM 4+ regions on Thursday, was able to sustain the buying momentum and rallied towards the RM 4.30 regions with huge volume on Friday.

Although it still faced strong selling pressure around the RM 4.20+ regions, its closing price of RM 4.14 was still a pretty decent one. For now as long as able to sustain above its RM 4 immediate support, could continue to trend back up towards the RM 4.40+ major resistance levels.

Will be monitoring YTLPOWR closely here

$JCY / 5161 (JCY INTERNATIONAL BERHAD) on the other hand since breaking out towards the RM 0.50+ regions earlier this month, been consolidating well around this region, potentially forming its higher low regions here on the daily chart.

On Friday, was even able to breakout back towards the RM 0.54+ regions with good volume here. Although still met with some selling pressure, still a pretty good sign here and as long as able to sustain, could continue to trend back up towards the RM 0.575 - RM 0.60+ regions soon.

Will be monitoring JCY closely here as seems to be recovering quite well.

$UWC / 5292 (UWC BERHAD) on the other hand since breaking out from its RM 2.80+ major resistance levels, been trending up strong towards the RM 3.10+ regions over the past week here with good volume and buying momentum.

For now, looks very ripe for a further recovery wave back towards the RM 3.40 - RM 3.50+ main downtrend resistance levels on the weekly chart soon in the coming weeks here.

Will be monitoring UWC closely