Orna 5065 

 

Overall prices are in a ranging downtrend for now, which initially prices were in a strong uptrend. The trend switch is the actually the hidden point for the confirmation of the range + downtrend. 

 

Notice how prices start to respect the Pitchfork after the trend switch? Coincidence? I will let you decide. Now we see that prices are ranging and respecting the Pitchfork Fibonacci Resistance while at the same time broke down from the Fibo level 0.5. By combining both factors, prices should continue to trend lower towards the next Fibonacci Level. 

 

However, if prices reverse back up and close above the Resistance + the 0.5 Fibonacci level then a possible short-term uptrend will come, which is less likely but possible. 

 

Industry: Packaging Materials.

 

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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.