KLSE Stocks Review

Technax 2739

ChartStory72
Publish date: Thu, 22 Apr 2021, 03:42 PM
ChartStory72
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Technax 2739
 
One of the Top Most Actively Traded Counters for today.
 
Overall in a steady uptrend but the recent prices are abit worrisome, here's why. Prices drop strongly after retesting the Fibb Resistance Level 1 and drops back to Fibb Support Level 0 within a short period of time, that usually indicates the end of a 'Goreng'. However, we see light as prices rebounded off the Fibb level 0 + 0.236 yesterday and gapped up today to the 0.382 + 0.236 level. 
 
IF prices break below the Fibb level 0 + 0.236, it means the trend is over and the bankers had left. I call this the Fibb Ground 0 Support. At the same time prices MUST break and close above the 0.236 + 0.382 level in order for the prices to continue trend higher as the Bankers are now deciding whether to continue pushing or call it a day and go to another stock. What we do now is patiently wait for them to make their decision. 
 
Industry : Energy.  
 
In this fast-moving digital world, we get information in a few clicks. 
However, we rarely get first-hand information and more often we get misleading news.
Investing in stocks today is very different from the past, but one thing hasn't changed - to study about a stock before putting money in.
 
A stock chart contains data that is publicly available and accurate by itself. By having certainty in data quality, we can comfortably study charts and make investment judgements.
At Chart Story, we believe stock prices move for a reason. Our objective is to share what we believe.

 

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