KLSE Stocks Review
ZELAN 2283 The Story behind the Chart of ZELAN BHD
ChartStory72
Publish date: Mon, 14 Jun 2021, 12:26 PM
ChartStory72
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Zelan 2283
Overall prices are in a ranging uptrend, which is good. There are multiple signs of collection as well, which is also good. However, the recent push should send the prices sky high but prices were not able to sustain above the True Resistance Area and got pushed back down.
After adding in the Fibo Resistance Arc, now we know why. Notice, the Golden Ratio Arc Resistance is also one of the contributions of blocking the prices to go sky high. Prices closes back inside the Golden Ratio Fibo Arc the very next day which confirms that the bankers were not ready yet and perhaps something went wrong with their plan.
Two confirmations are needed to know whether the bankers will be back.
1st - A break above of the Golden Rational Fibo Arc Resistance.
2nd - Prices must stay above the blue Last Line of Defense at all costs.
Let's observe and see in the following few days.
Industry: Construction.
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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2021-06-14 12:51