KLSE Stocks Review

OPCOM (0035) The Story behind the Chart of OPCOM HOLDINGS BERHAD

ChartStory72
Publish date: Tue, 14 Sep 2021, 11:19 AM
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OPCOM 0035
 
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.
 
Overall prices are in a huge ranging mode. However, the good news is that there's higher lows forming. This indicates a hidden hand behind the scenes and also it indicates strength.
 
One of the best hints of the hidden hand is the Double Breakout from both the MA + The downtrend Trendline. This is a good sign Trend Transition. However, prices could not break above the resistance and got rejected lower. Then, the hidden hand appears again where prices formed a Mini Double Bottom and pushing prices higher, breaking out from the resistance yesterday. 
 
It is pretty straightforward as everything can be explained simply just by looking at the chart, I have already highlighted the important Support/Resistance Levels. However, if you seek for Hidden Support/Resistance then we need to look at the Fibonacci Levels.
 
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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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