An updated version from my previous post which you can access here: https://klse.i3investor.com/blogs/KLSEChartStories/2021-08-09-story-h1569676120-AVI_8885_The_Story_behind_the_Chart_of_AVILLION_BERHAD.jsp
AVI 8885
To my surprise, I never thought that prices will re-test that level so quickly but yea another win for the Fibonacci Numbers for showing the future before it happens again. From the super long green candle, I can only conclude that the bankers are rushing to push, maybe they are on a deadline or something.
Now let's analyse what's going on and try to grasp what are the banker's next move. First we see that prices spiked all the way up towards the highest Peak Fibonacci Resistance, the 4.236. As the name states, that is the highest prices will ever go, and it is also the hardest level to break. Whoever bought at that level, good luck bro.
Next we also can see that prices got pushed all the way down and couldn't stay above the Combo Fibonacci Level of 1.618 + 2.618. This indicates weakness, at least in the short term. However, prices are still maintaining above the Level 1 Resistance as support. If prices can maintain above it, there's still hope, otherwise, good luck bro.
Industry: Travel, Leisure & Hospitality.
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