KLSE Stocks Review

Velesto (5243) The Story behind the Chart of VELESTO ENERGY BERHAD

ChartStory72
Publish date: Wed, 13 Oct 2021, 02:12 AM
ChartStory72
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Velesto 5243
 
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 uptrend inside the huge range. However, inside the ranging uptrend, we can learn a few things from it. 
 
One of the benefits for trading a ranging chart is that the RSI will be very useful as every Overbought/Sold made by the RSI are accurate predictions of a reversal of trend. By combining with the support zone drawn in the chart, we can easily predict the rebounding area and possibly place a buy position. Same theory can be applied to place the sell position too. 
 
Previously, prices had executed a breakout from the small downtrend. A successful backtest on the downward trendline indicates that bankers decide to stop the downward momentum. Therefore, there is a high chance for the prices to trend higher in the near terms.
 
Student Analysis
 
Come join us on Telegram and PM us to learn more and request for the stocks you need reviewing for FREE. We also post other extra contents that we do not share here, which includes weekly recap and weekly analysis. 
 
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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