KLSE Stocks Review

MI (5286) The Story behind the Chart of MI TECHNOVATION BERHAD

ChartStory72
Publish date: Mon, 02 Aug 2021, 08:20 PM
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MI 5286 
 
Overall prices are in a downtrend. As you can see that lower lows are forming which is the first sign of a downtrend. 
 
Recently, we see that there's a mini price rally. However, prices got rejected strongly after reaching a Critical Triple Fibonacci Resistance Triangle. Which is a combination of three different Fibonacci Numbers where the math behind the chart are all aligned. 
 
The last confirmation would be the red candle breaking down from the Triangle. Prices should continue it's downtrend, at least in the short-term and the next potential rebounding area would be the Golden Ratio Support Zone. 
 
Industry: Technology Equipment. 
 
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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.
 
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