KLSE Stocks Review

JAG (0024) The Story behind the Chart of JAG BHD

ChartStory72
Publish date: Fri, 18 Jun 2021, 01:33 PM
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JAG 0024 
 
Overall prices are in a strong uptrend until recently, a massive drop causing a disruption in prices and the overall chart pattern. Prices went all the way down towards the 0.382 Fibo level, at the same time maintaining below the 1/2 Angle, which is very bad. Prices tried hard to rebound at the 1st layer support and couldn't do so as well. 
 
Fast Forward Today, we see that prices are leaning towards the 1/2 Angle, at the same time prices are in the Triangle of Truth. A few levels for prices to breakthrough in order for a confirmation of uptrend. 
 
1st - Prices must break above the 1/2 Angle. 
2nd - Prices must stay above the Last Line of Defense.
3rd - The final piece, Prices must break up the 1/1 Angle. 
 
Fail to meet any of the 3 requirements then the uptrend will not come. 
 
Industry: Industrial Services.
 
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