KLSE Stocks Review

YBS (0025) The Story behind the Chart of YBS INTERNATIONAL BHD

ChartStory72
Publish date: Mon, 12 Jul 2021, 10:14 PM
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YBS 0025 
 
Generally prices are in a ranging mode. However, the sudden break up from yesterday may indicate a resumption of uptrend if prices manage to stay above the Multi Level Fibonacci Resistance. However, it is more likely that prices will head down first as the breakout is not strong after having that long tail at the top.
 
Previously, we can see that the Multi level resistance were well respected as prices tested that level twice and would reverse away as quickly as possible. The weird part is that, this time prices did not even care to test that level, prices just gap up skipping the level right away. 
 
Skipping an important level is always a bad sign as prices did not 'break' the level naturally and after that long tail, it is even more likely that prices are more likely to drop back into the zone in the short term. 
 
Industry: Industrial Materials, Components & Equipment. 
 
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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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