KLSE Stocks Review

PESTECH (5219) The Story behind the Chart of PESTECH INTERNATIONAL BHD

ChartStory72
Publish date: Fri, 11 Jun 2021, 11:13 AM
ChartStory72
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Pestech 5219 
 
An attempt of pushing happened on Feb 2021, which is a few months back. The push is quite strong where prices manage to hit the Golden Ratio Area. However, prices could not stay above the Golden Ratio for more than a week and prices started to drop. 
 
For now if we pay attention, notice that the 2/1 level is actually a very strong resistance where prices respects it multiple times. At the same time prices are also approaching the Fibo Support level + Last Line of Defense as well. Combining all factors together, we can now see the Moment of Truth Triangle.
 
Why? That triangle is the turning point for the stock, if prices are able to break above the 2/1, then a resumption of uptrend will come, however if prices breaks down instead, it is the end for this stock. 
 
For now let's wait and see. 
 
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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