KLSE Stocks Review

DSONIC (5216) The Story behind the Chart of DATASONIC GROUP BERHAD

ChartStory72
Publish date: Mon, 18 Apr 2022, 12:48 PM
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Dsonic 5216 
 
First, notice before the deep V pattern, the TRUE support was established subtlely, hidden in plain sight. Prices proceed to crash and instantly flew back up creating a Fake move causing lots of panic and potentially a move made by the bankers to disrupt the 'Chart Patterns' of the chart. 
 
That way, many 'traders' lost their ability to analyze the market and it is their intention all along. Prices proceed to form a Double Top Formation creating a Level 1 Fibonacci formation. To further confirm the TRUE support, we can see that prices have been rebounding at that level Multiple times as support and resistance. 
 
At the same time, Multiple hidden Fibonacci Angle Resistances can be seen at the back as well. The 2 most significant levels are the 3/1 and 4/1 as it had been tested Multiple Times in the past. Once a significant level is broken a change of trend is highly possible. However prices are testing the 4/1 level now. Let's see if prices are able to break this level and proceed to 8/1 level.
 
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