TA (charting) is basically best explained by this - Money leaves behind footprints which you can track using charts
Is TA correct all the time - HELL NO…. But gaining some basic understanding of it and having fundamental knowledge of the company you’re investing in helps!
If an announcement drops tomorrow that makes SPQ rise 1000% will the charts know this?? Unlikely unless there is a leak in the company….. Same is said about bad drill results or a low cash position pending a raise if price action is dropping for some unknown reason
All you can see is this is in a downtrend - Now you have to ask yourself why is this? Money? Terrible results from the drill bit? Over priced by Market Cap based on a pump? Terrible management? Or large shareholders exiting?
You have to figure this one out for yourself and make your own decision……
Keeping track of company finances is very important at this end of the market as they won’t be turning a profit for a long time
SPQ Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
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