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.
Come join us on Telegram and PM us to learn more and request for the stocks you need reviewing for FREE.
Telegram : https://t.me/thechartstory
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.