KLSE Stocks Review

MFCB (3069) The Story behind the Chart of MEGA FIRST CORP BHD

ChartStory72
Publish date: Mon, 12 Jul 2021, 12:19 AM
ChartStory72
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MFCB 3069 
 
Used to be my favourite stock till prices started ranging for so long. Before jumping into the technicals, I want to mention that the fundamentals for MFCB is very good and it's also one of the best in my opinion. However, good fundamentals does not mean fly or buy, keep that in mind. 
 
Moving on to the technicals, overall prices are now in a very obvious ranging mode. Notice that prices are trying to stay above the Balancer, which acted as a support thrice. If prices are able to stay above the Balancer, a high chance that prices will resume it's uptrend. 
 
However, if prices breaks below the Balancer, a potential downtrend may come. Let's observe the following days. 
 
Industry: Electricity. 
 
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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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