KLSE Stocks Review

ARMADA (5210) The Story behind the Chart of BUMI ARMADA BHD

ChartStory72
Publish date: Mon, 21 Jun 2021, 01:44 PM
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Armada 5210 
 
Overall prices are in a steady uptrend. By using a combo of the Pitchfork + Gann Fan, we are presented with a foresight of what is going to happen next. 
 
First, if you notice that prices always reverse away whenever it reaches the Fibo Resistance Triangle? In the picture it is labeled as free shares for sales, because that is where the bankers take most of their profits. So for now, we know that, that area will also be a profit taking area for us as well. 
 
Moving on, we also can see that there is a Hidden Combo Support. Without the tools, you would not have seen it this clearly. Prices tested that area Thrice and as of today, we see that prices are approaching that area. If that area is able to hold, prices should head up high in the future, at least in the short term. However, there is also a possibility that  the area will not hold. In that case, a potential range may happen. 
 
Let's observe and see. 
 
Industry: Energy, Equipment & 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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