KLSE Stocks Review

CJCEN (7117) The Story behind the Chart of CJ CENTURY LOGISTICS HOLDINGS BERHAD

ChartStory72
Publish date: Tue, 09 Nov 2021, 12:35 PM
ChartStory72
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CJCEN 7117 
 
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 an uptrend. Yet, we can observe a few interesting parts from the uptrend. 
 
First, we can see that there is a previous resistance which turn support zone after being tested twice. In facts, MACD is also giving us hint by forming golden cross at the zone. The prices manage to rebound strongly everytime it hit the zone. 
 
Besides, there is a support trend line which prices manage to rebound off whenever it hit the trend line. However, the trend line was broken in the late of May 2021. This is a bad sign to the uptrend. Fortunately, prices manage to find some buying pressure in the resistance turn support zone. 
 
Now, prices are retesting the previous support trend line which possible turn resistance line. Time to observe. 
 
Student Analysis
 
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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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