KLSE Stocks Review

FTSE Bursa Malaysia KLCI

ChartStory72
Publish date: Fri, 21 May 2021, 02:48 PM
ChartStory72
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FTSE Bursa Malaysia KLCI 
 
Let's do something different for today as market a whole in Malaysia is dropping with over a thousand counters in red today. Therefore, I am going to review market as a whole for today. 
 
From the technicals we can see, market is actually in a ranging downtrend. Today, we see a breakdown from the 0.5 Fibo support level and prices are approaching the 0.382 Fibo Support Level. We now know there is a Critical point, where i circled in the graph, that critical point shall determine whether the prices are able to recover or not. If that Critical point can hold and act as a strong resistance, prices will continue downtrend AT LEAST in the SHORT TERM. 
 
However, LONG TERM wise, market will definitely be going down, it is just the matter of time. All signs are pointing towards the downside. Upside is VERY limited. 
 
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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