KLSE Stocks Review

DAYANG (5141) The Story behind the Chart of DAYANG ENTERPRISE HOLDINGS BHD

ChartStory72
Publish date: Tue, 29 Jun 2021, 02:38 PM
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Dayang 5141 
 
Initially prices are in a steady uptrend, until recently. Instead of heading higher, prices formed a ranging triangle pattern. Notice that the Fibo level 0.5 had been tested the third time as of yesterday. At the same time, we also can see a breakdown from a critical support angle support. 
 
Combining both breakdown from the Critical Angle Support + the Fibonacci 0.5 level it will only mean one thing and that one thing is bad news. Today we see a small green candle trying to close back above the 0.5 Support Level. Of course if prices are able to close back intoo the range then there is still hope for the uptrend, otherwise, it is a confirmation of breakdown and prices should continue to head down lower.
 
Personally, I would stay out for patterns like this. 
 
Industry: Energy, Infrastructure, 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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