KLSE Stocks Review

PBBANK (1295) The Story behind the Chart of PUBLIC BANK BERHAD

ChartStory72
Publish date: Wed, 18 Aug 2021, 10:44 AM
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PBBank 1295 
 
Overall prices are in a ranging mode. As you can see there are no higher highs forming, neither does any lower lows. However, the potential for prices to go higher is there. 
 
The reason is because prices had been learning on the resistance line for more than 1 month. However, prices could not break above the Fibonacci Resistance Level. The longer the prices to lingers against the Resistance, the stronger the breakout. If prices are able to breakout from the Fibonacci Resistance, we might see a strong uptrend.
 
Fast forward today, we can see that prices are slowly transitioning down towards the Twin Fibonacci Support Triangle, which is a high potential rebounding zone. Prices could potentially rebound at this level and break up higher. However, if there are no signs of rebound at that support level then we have to look at the Balancer as our next target.
 
Industry: Banking
 
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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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