volume , page-74

K-Bear here is another way to look at the current share price & why price is king with so much more information than just little digits.

The market PRICE reflects the sum knowledge of all participants, including traders, investors, portfolio managers, buy-side analysts, sell-side analysts, market strategist, technical analysts, fundamental analysts and many others. It would be folly to disagree with the price set by such an impressive array of people with impeccable credentials.

While of course a chart can't provide any definitive guide to the future as is with anything the future is unpredictable without any kind of guaranteed outcome but what a chart can do is show what is likely but as always with the market both technical analysis & fundamental work best hand in hand. I think the biggest gap there is where you highlight "the effect of as yet unknown major company making/breaking scientific announcements", and that's where the risk rests the unknown outcome could have a significant impact both up or down on the chart but until it's delivered we really have no idea - so it's a 50/50 punt ? of course we could argue that success is more favourable at maybe 80/20 but that would only be speculation and as the supply/demand shows with the participants they are not betting on 50/50 odds. As the charts has passed through much of the ground above though and from what we do know into the future ie. still an 800 patient trial to travel through for any kind of definitive result and outcome the chart can show likely levels it may encounter resistance into the future so I wouldn't say the chart ever becomes "null and void" but really the picture wont change until price does.