KLSE Stocks Review

AppAsia (0119) The Story behind the Chart of APPASIA BERHAD

ChartStory72
Publish date: Thu, 19 Aug 2021, 11:44 AM
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AppAsia 0119 
 
Overall prices are in a very obvious downtrend. One of the most important areas to take note of is the 4/1 Gan Fann Angle as it had been tested Quadruple Times ! This indicates strength and massive respect by the bankers of this level. Keep that in mind. 
 
Next, we can see that prices broke below a major support level creating a lower low. That lower low confirms the direction of trend, which is downtrend. However, after zooming in to the recent few days, we can see that prices got bought up strongly and it is heading towards the Fibonacci Resistance Triangle. 
 
The Triangle will be a significant reversing point for prices as it consists of the most respected resistance 4/1 + Previous support turn resistance. The combination of both aligns all the math equations. Prices should reverse at that level unless the bankers change their minds and prices breaks above the Triangle.
 
Industry: Software. 
 
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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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