KLSE Stocks Review

MYEG (0138) The Story behind the Chart of MY E.G. SERVICES BERHAD

ChartStory72
Publish date: Fri, 20 Aug 2021, 11:11 AM
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MYEG 0138
 
Overall in the bigger picture, prices are still considered to be on an uptrend. From this we can conclude that the direction is still up. However, after zooming in we can see that prices are in a ranging downtrend. 
 
The ranging downtrend could mean two things. First being that prices are in a long term retracement. Second being the bankers are slowly distributing their shares to the retailers. How to determine which is which? That's what I am going to reveal today. 
 
Now notice at the Balancer, the Balancer is a very important tool as is Balances the prices, either above or below. For this case, prices are being pushed below the Balancer, tested once previously. BUT looking at the most recent candle, there's a huge push by the bankers penetrating above the Balancer. 
 
If prices can maintain above the Balancer, it will be the first case whereby the downtrend is a retracement and a potential uptrend is coming. 
 
Industry: Digital Services.
 
Come join us on Telegram and PM us to learn more and request for the stocks you need reviewing for FREE. 
 
Telegram : https://t.me/thechartstory
 
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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