KLSE Stocks Review

ANCOM (4758) The Story behind the Chart of ANCOM BHD

ChartStory72
Publish date: Fri, 18 Jun 2021, 01:56 PM
ChartStory72
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Ancom 4758 
 
Overall very nice and strong uptrend stock. Resistance are slowly turning to support, which is a good indication of a strong uptrend. The highest Fibo Resistance level that prices could not break is between the 0.618 and 0.5 level. From that we know that the bankers love to sell their positions around that area, so keep in mind. 
 
Moving on, the good news is that for this particular stock, there is a Triple Layer Support supporting the prices to go higher. The confirmation for prices to go higher is when prices rebounds in any of the Triple Layer Support but Preferably the top 2 support, combining with the break of the 1.618 Golden Ratio Arc Resistance. 
 
However, if prices fail to find support from any of the Triple Layer then the uptrend is no more as the bankers decided on a abandoned ship, which is less likely but possible. 
 
Let's observe. 
 
Industry: Chemicals. 
 
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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