KLSE Stocks Review

BIG (7005) The Story behind the Chart of B. I. G. INDUSTRIES BHD

ChartStory72
Publish date: Sun, 18 Jul 2021, 07:35 PM
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BIG 7005
 
Another similar pattern that had been happening across many stocks. The overall ranging uptrend transition towards a sudden push as if it is all part of a plan.
 
First we see a strong push previously last month. Prices broke all the way up and ignores the Fibonacci Resistance Level 1. Proceeds to touch the Golden Ratio Level 1.618 and got rejected immediately. From that we know that the Golden Ratio level is a critical one because it is a point where the bankers respects. 
 
After flushing the contra players, the bankers are ready for a second round, forming a Collection Triangle below and proceed on another heavy pushing which occurred on Friday last week, re-testing the 1.618 Level. If prices are able to break that level then we can confirm that the a massive  uptrend will come.
 
Industry: Diversified Industrials.
 
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