KLSE Stocks Review

MERIDIAN (5040) The Story behind the Chart of MEDA INC BHD

ChartStory72
Publish date: Mon, 26 Jul 2021, 08:35 PM
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Meridian 5040 
 
Overall prices are in a downtrend, whereby there were a few key areas given by the bankers for us to pay attention to. 
 
First, notice that prices rebounded exactly at the a Pitchfork Fibonacci Support Zone, which I have highlighted in blue. The selling power is so strong that prices proceeds to range for a few days just to take a break. Ranges like these that consists many small green candles are usually a trap laid by the bankers into tricking the retailers into thinking a recovery is coming. 
 
After planting the trap, prices proceeds to execute a 'breakout' towards the upside and immediately got pushed back down. The last attempt to trapped even more retailers. Classic move by the bankers. 
 
Prices should continue downtrending if the bankers had trapped enough retailers, if the bankers are not done trapping, a continuation range will happen. For me, I will sit back and enjoy the show. 
 
Industry: Property.
 
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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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