KLSE Stocks Review

MSM 5202 The Story behind the Chart of MSM MALAYSIA HOLDINGS BHD

ChartStory72
Publish date: Mon, 14 Jun 2021, 11:31 AM
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MSM 5202 
 
After that strong spike, prices found resistance at the 2.618 Golden Ratio level. Prices are now slowly descending and forming a downtrend ranging pattern where bankers are slowly selling off their shares now. 
 
Previously we see that prices manage to find support on the Golden Ratio 1.618 area once. However, prices re-tested that area 2 weeks ago and that level were not able to hold anymore and prices free fall for a few days. Luck enough, prices did manage to find support at the 1/1 area and it is forming a small rebound for now. 
 
If the small rebound is strong enough, prices might rally all the way back towards the Golden Ratio Triangle before making a massive fall again. Good place to get out if you are stuck. However, if prices breaks below the 1/1 then prices will not rally towards the Triangle anymore. 
 
Industry: Food & Beverages. 
 
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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