KLSE Stocks Review

JHM (0127) The Story behind the Chart of JHM CONSOLIDATION BHD

ChartStory72
Publish date: Tue, 13 Jul 2021, 09:58 PM
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JHM 0127 
 
Overall prices are in a ranging mode. However, when we zoom in we can see that prices are more towards the side of downtrend BUT recently if you notice, there is strong rally going on with high inflow of monies as well. 
 
Now we can see that prices is at a very critical level. It is critical because prices are at the Triple Fibonacci Resistance Level. The name is pretty much self explanatory as 3 types of resistance is trying to push the price back down. If prices are able to overcome this challenge snd break above that level, we may confirm the rally and prices are in a short term uptrend. 
 
As usual if prices are unable to overcome this challenge then we will see a continuation of downtrend. Let's observe. 
 
Industry: Semiconductors.
 
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