KLSE Stocks Review

BCMALL (0187) The Story behind the Chart of BCM ALLIANCE BHD

ChartStory72
Publish date: Tue, 27 Jul 2021, 07:40 PM
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BCMALL 0187 
 
Overall prices are in a downtrend. If you notice previously whereby there are multiple spiked up in prices just to get sell down hard from that spike. Classic move by the bankers to trick retailers into buying so that they can dump their shares to the retailers. 
 
Why do i mention it? This is because the same old pattern has happen again. Notice that the past 2 days prices hiked up strongly and followed by a strong selling pressure yesterday? Why does it look so Familiar? 
 
At the same time, the area prices got rejected strongly, just so happen to be a Fibonacci Rejection Triangle Level. Coincidence again? Prices should continue to head towards the downside unless the bankers decided to change their minds and switch their selling pressure towards The Level 2 Fibonacci Resistance, which is possible but unlikely. 
 
Industry: Industrial Services.
 
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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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