KLSE Stocks Review

EVERGRN (5101) The Story behind the Chart of EVERGREEN FIBREBOARD BERHAD

ChartStory72
Publish date: Tue, 11 Jan 2022, 11:43 AM
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Evergreen 5101 
Market Review Series 
 
Overall prices are on an uptrend. However, there are a few times whereby prices got rejected strongly at the Ultimate Fibonacci Pitchfork Resistance. Prices surged all the way down towards the balancer, which act as a support after touching the Fibonacci Pitchfork Resistance.
 
The balancer managed to hold the prices above it for a while, however it is still not strong enough and after being tested for a few times, prices eventually broke down from the balancer. 
 
Prices finally found support at the Fibonacci Support and after ranging for awhile, prices finally break back above the balancer and trend higher ever since. Prices are now approaching the Multi-Tested Pitchfork Resistance whereby selling pressure may return.
 
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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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