KLSE Stocks Review

SAMCHEM (5147) The Story behind the Chart of SAMCHEM HOLDINGS BHD

ChartStory72
Publish date: Sat, 05 Jun 2021, 12:50 PM
ChartStory72
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SAMCHEM 5147 
 
Requested by one of our subs as well. 
 
Overall prices are in a strong trendy uptrend, which is very good. Notice that there is a strong resistance area at the 0.382 Fibo Level where prices always got rejected at that area, the temporary high, tested 4 times.
 
At the same time we also can see the uptrend supporting zone where prices always rebounds at that area. Today we see that prices are hanging around the resistance area. Not sure what is going on, but a few days ago, notice a strong break up candle breaking above the 0.618 level on the fibo retracement, that indicates momentum where prices should continue rally in the short term, however, if prices breaks down back below the 0.618 level, it means the momentum is fake and it will continue a mini downtrend back towards the Uptrend Support Zone at least. Which is also good, opportunity to buy cheaper.
 
Industry: Industrial Products & Services.  
 
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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