KLSE Stocks Review

KNM (7164) The Story behind the Chart of KNM GROUP BHD

ChartStory72
Publish date: Mon, 13 Sep 2021, 01:19 PM
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KNM 7164
 
Overall prices may still seem to be in a ranging mode, however, the hints that prices are giving out may say otherwise. One of the most obvious hints given by the price is that higher lows are forming and this indicates that the buyers are slowly coming back, forming a ranging uptrend which is Hidden in Plain Sight. 
 
Fast forward last week, we can see that prices are now re-testing the Fibonacci Resistance Level 1 as it had been tested once previously and could not breakup from it. This indicates strength as well, as the bankers are using the that resistance level for now.
 
Good news is that, if prices are able to breakup from the Fibonacci Resistance Level 1, then a new uptrend will begin and the next resistance level would be the Golden Ratio Resistance Level. However, if prices are unable to break up then the range will continue until the bankers have collected enough shares. 
 
Industry: Energy Resources.
 
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Discussions
Be the first to like this. Showing 2 of 2 comments

annmix

Just another useless con counter. Avoid

2021-09-13 15:29

bowman

Silly analysis. Higher lows doesn't mean much if you consider other risk factors. Fair value is probably 0.18 - 0.23

2021-09-14 06:28

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