I understand guys who chart and trade know infinitely more than me. But when market buying runs on news cycles and spikes or drops on news, how do you work out that your charting is accurate at all?
When a stock with income, exposed to real economic situations and trends is charted, I feel like the charting is more reliable?
Not meant to totally knock you all, it's not my thing to chart much anyway and I admit I am the last one to have a real say in that. But how can charting ever pick true ranges in these stocks? We have 60p million shares on issue, and a tiny amount trading recently. Say for instance if nextweek EXR announced a JV or farm in with BP or Chevron or something crazy, and the price hit 30 or 40 cents...Or if Nomgon 2 comes back with low permeability and non commercial gas contents? Not a chart in the world that could work out the SP movement on that surely?
Chart - EXR, page-33
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