KLSE Stocks Review

SCOPE (0028) The Story behind the Chart of SCOPE INDUSTRIES BERHAD

ChartStory72
Publish date: Thu, 05 Aug 2021, 07:35 PM
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Scope 0028 
 
Overall in the bigger picture, prices are in an uptrend. However after zooming in to the current few months, we can see that prices are actually in a range.
 
Fast forward to recent weeks, we can see that prices were starting to resume it's uptrend. The most obvious hint of that happening is when prices breaks above the Balancer, which I called the Reversal of Fate Pattern. Which means that prices are reversing it's fate from going down to up.
 
However, a last confirmation is needed whereby prices needed to break above the Combo Critical Fibonacci Resistance ONLY we can consider the Uptrend to be confirmed. If prices are unable to break this last barrier then a continuation range will happen. 
 
Let's Observe. 
 
Industry: Industrial Materials, Components & Equipment. 
 
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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.

 

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