KLSE Stocks Review

Penta 7160

ChartStory72
Publish date: Mon, 10 May 2021, 02:22 PM
ChartStory72
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Penta 7160 

 
Requested by one of our subscribers, you can get yours too for FREE if you PM us on Facebook so dont be shy. 
 
One of the strongest up trending tech stocks in Malaysia as prices have already risen more than 400%. Today we see a massive drop and the drop is about to get even worse.
 
From history, we see a strong Fibo support level at Fibo level 0 and that level has been tested twice. However, that level had been broken at Nov last year. That is the 1st sign that the uptrend is about to end. While the 2nd sign is the re-test of Fibo support level 0 turn resistance. Prices are unable to breakout from that level, very bad. The 3rd sign and the last confirmation is that prices could not stay above the Fibo 0.25 line. Prices crash afterwards. 
 
Prices should drop further as shown with the blue line, any uptrend after that will be a fake one unless it can break all the resistance of 2/1, 3/1, 8/1. 
 
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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