Titan Trading Notes For Friday [17/1/2025]:

Despite global sentiment rebounding after CPI results, KLCI continued to be bearish today, closing red around the 1555 points region with an overall negative market sentiment as we saw over 520 counters closing red for the day.

Main stocks that showed strong buying momentum today would be the likes of CBHB, MYEG, TOPGLOV, ARMADA, JCY, and SUPERMX. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$ARMADA / 5210 (BUMI ARMADA BERHAD) despite the weak market sentiment, been able to hold well above its RM 0.62+ main support levels over the past 2 days and was able to rebound strong back towards the RM 0.66+ regions with good volume and buying momentum.

So far looking quite strong here no the daily chart and as long as able to sustain above its RM 0.635+ immediate support, could continue to trend up towards and beyond its RM 0.685 regions soon.

Will be monitoring ARMADA closely here.

Glove stocks on the other hand such as $TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) was able to show signs of a dip already as it held above its RM 1.14+ support levels well over the past 2 trading days and was able to rebound all the way back towards the RM 1.20+ regions with good volume.

Although still facing some selling pressure around the RM 1.20+ regions, its closing price of RM 1.19 was still a pretty good one. For now as long as able to sustain above its RM 1.15+ support, could bounce back towards the RM 1.25 - RM 1.30+ major resistance levels soon.

Will be monitoring TOPGLOV closely here.

Major Construction of Data Center related stocks like GAMUDA, SUNWAY. SUNCON, and MAHSING are still facing strong selling pressure.

I use $GAMUDA / 5398 (GAMUDA BERHAD) s the benchmark leader, today it retraced all the way back towards the RM 4.15+ major support levels with even larger selling volume than the days before. This is a sign that major funds are offloading heavily all at once.

This is kind of like panic selling, mostly from the institutions due to potential policy changes that will affect our growth in the data center space. For now still too early to say anything yet and it unable to rebound, could continue to trend down towards the RM 3.90 - RM 4+ major support levels on the daily chart before we see a meaningful rebound.

Will have to monitor it closely and see how it goes. Will continue to caution against early attempts of dip buying before the charts start showing any signs of a rebound.