KLSE Stocks Review

EURO (7208) The Story behind the Chart of EURO HOLDINGS BHD

ChartStory72
Publish date: Thu, 17 Jun 2021, 02:27 PM
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Euro 7208 
 
Sigh*. I hope none of you is holding this as it is really a lost cause. However, we can still learn a thing or two from the charts.
 
Firstly, notice how that uptrend is high and fast without any collection phase? I m not sure the reason behind the bankers pushing the prices so quickly. But the 1st bad sign appeared when prices enters the 0.618 Fibo zone too fast without any collection. 
 
Secondly, we can see that prices tried hard to rebound at that support zone while prices continuously touching the zone within a short span of time, this indicates that the zone is weakening and eventually prices broke down from it.
 
Thirdly, the last line of defense breakdown. This indicates the uptrend had ended and prices could potentially range or downtrend. For this case downtrend. 
 
By learning what is going on here, we now know that, whenever the same pattern occurs in the future for any other stocks, we know we should get out fast.
 
Industry: Consumer 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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