KLSE Stocks Review

CENSOF (5195) The Story behind the Chart of CENSOF HOLDINGS BHD

ChartStory72
Publish date: Mon, 05 Jul 2021, 12:27 PM
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Censof 5195 
 
Overall prices are in a strong uptrend with a major collection beforehand for a few months. Notice how prices respects the 1.618 Golden Ratio level where initially the 1.618 was a resistance then turn support which pushes the prices all the way towards the 3.618 Fibonacci Level. 
 
For now we can see that there were multiple rejections at the 3.618 Fibonacci Level. With that information we know that prices respects the 3.618 very well and that the bankers are actually unloading at that area very often. A combination of the double 3.618 level formed a Distribution Triangle Pattern. 
 
The name is pretty much self explanatory where the bankers are distributing hard at that area. Prices are expected to go down very soon. Even if prices where to go higher, I would personally stay out as well as the risk/reward is not sweet anymore. 
 
Industry: Software. 
 
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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.

 

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