KLSE Stocks Review

ATAIMS (8175) The Story behind the Chart of ATA IMS BHD

ChartStory72
Publish date: Thu, 17 Jun 2021, 01:50 PM
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Ataims 8176 
 
Overall prices are in a healthy strong uptrend. By using the Fibo tools, we can plot out the areas where the bankers love to sell, which is between the Fibo levels of the 0.382 + 0.5. Notice how prices always reverse away from that area once prices are inside? Prices are forced to return into the neutral zone. 
 
Recently we see a heavy selldown by the bankers after prices chilled around the Fibo Selling zone for a few days. Prices tank all the way down and found support at a Fibo Combo Heavy Support. The Collection Triangle coupled with the Banker's Collection Zone pushed the prices all the way back up, even breaking the Gan Resistance level of 1/1, which serves as a confirmation. 
 
Prices are likely to continue rallying higher towards the next critical area in the short-term, which I have circled. However, if prices breakdown from the highlighted blue line then a potential range will come. 
 
Industry: Industrial Materials. 
 
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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