KLSE Stocks Review

Dnex 4456

ChartStory72
Publish date: Wed, 05 May 2021, 02:11 PM
ChartStory72
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Dnex 4456
 
One of the Top Most Actively Traded Counters for today. 
 
Prices started off as a steady uptrend and out of nowhere it rose so quickly it broke all the Fibo Resistance level. This kind of rising does not happen all the time and usually if prices that rise at this level, it is usually goreng material. 
 
On the technicals, first we see a price rejection at the Fibo Golden Ratio level x3 of 3.618. Prices went down and found support on the 2.618 Fibo level before flying higher to the next stage of Fibo Golden Ratio x4 resistance which is the strongest resistance of all time. Prices will never break any of that level as you can see prices start dropping afterwards.
 
Fast forward today, we see prices are re-testing previous support 2.618 level, however prices should head down lower as the outflow of monies are growing and the bankers are slowly leaving. 
 
Industry : Technology. 
 
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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