KLSE Stocks Review

HIBISCS (5199) The Story behind the Chart of HIBISCUS PETROLEUM BERHAD

ChartStory72
Publish date: Wed, 01 Sep 2021, 11:48 AM
ChartStory72
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Hibiscs 5199
 
Normal TA VS Fibonacci TA 
 
Normal TA 
 
Let's do something different today as everyday you see post all about Fibonacci. Today I am going to do a comparison between Fibonnaci TA and Normal TA. To access the remaining post you can follow my Telegram Channel, it is all inside my Channel. Link is at the Bottom.
 
Looking at the bigger picture, we can see that prices are forming an Huge Ascending Triangle Chart Pattern, which seems to be a good news for starters. However, if we look closely, we can see that prices breaks the upward trendline recently, which does not indicate good news as the Ascending Triangle Pattern is possibly invalidated. 
 
At the same time of the break of trendline, we can see that the MA had also executed a Death Cross, which indicates weakness in the uptrend and possibly a range or downtrend is coming. BUT also at the same time we can see that prices also executed a Double Bottom Support as well. 
 
The Double Bottom Support will now be an important Level for us as if the Double Bottom Support could not hold the prices to stay above and prices breaks down from that level, then we may have a confirmation for range or a potential Downtrend.
 
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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.

 

HIBISCS (5199)
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Discussions
Be the first to like this. Showing 2 of 2 comments

gysiew

thanks for sharing

2021-09-02 06:28

Wan Hirwan

Tq for sharing

2021-09-02 13:46

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