Titan Trading Notes For Tuesday [14/1/2025]:

KLCI took quite a severe hit and retraced all the way back towards the 1585 points region with an overall bearish market sentiment as we saw almost 900 counters closing red along with it today. Daily trading volume settled around the 2.8 billion mark, mainly dominated by selling activities.

Main stocks that showed strong buying momentum today would be the likes of ELRIDGE, DIALOG, and PBBANK. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$ELRIDGE / 0318 (ELRIDGE ENERGY HOLDINGS BERHAD) despite the super bearish market sentiment, was able to breakout all the way towards the RM 0.475 regions with good volume and buying momentum today here.

Although still facing some selling pressure around the RM 0.47+ regions, its closing price of RM 0.46 was still a pretty decent one and as long as able to sustain above its RM 0.44+ support, could still continue to trend back up towards the RM 0.49+ major resistance levels soon here.

Will be monitoring ELRIDGE closely as still showing good strength.

$YTLPOWR / 6742 (YTL POWER INTERNATIONAL BHD) on the other hand took a hit from its RM 4.15+ main support levels and retraced all the way back towards the RM 3.90 - RM 4 main support levels today, suffering from huge selling activities.

This could be caused by America listing Malaysia as a Tier 2 country, potentially limiting access to high end US chips. However, YTLPOWR came out to clarify that they will not be affected by the latest announcement on the limitation on the export of GPUs. With that, the market may see it positively and start buying it back up tomorrow.

For now as long as able to sustain above its RM 4 support, could rebound back towards the RM 4.20+ resistance levels soon. Will be monitoring YTLPOWR closely.

$GAMUDA / 5398 (GAMUDA BERHAD) lthough been taking quite a hit since breaking out towards the RM 5.30+ all time high levels over the past week, been taking a hit even today, retracing all the way back towards the RM 4.79 regions with huge selling pressure.

However, they later announced that 1 of its subsidiaries where GAMUDA has a 60% ownership secured the RM 8.3 billion Penang LRT project which is about to commence soon. This would boost GAMUDA's 2025 order book by 72% to RM 11.5 billion.

Will be expecting GAMUDA's share price to recover quite soon here and will be monitoring it closely.

With global markets having a larger correction, expecting our local sentiment to be affected as well at least in the short term. As such we'll have to be more cautious when making our trades and try to increase our cash positions.