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clock Created with Sketch. 29/01/19
11:06
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Originally posted by Sdaji
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I think people are often prone to overanalysing chats, but I agree with the $17-18 figure Davo threw up. After bouncing between about $11 and $15 between mid October and mid January, we recently had a breakout when we gapped up and found ourselves above $16 on January 18, and we haven't fallen back below $15 since. We've knocked on $17's door over the last 10 days and if we do break $17, $18 seems to be the next level to play at after being established in September/October (have a look at the chart to see what I mean). My guess is that if that happens (and I suspect it probably will) we'll probably bounce around either $17-18 or $16-18 for a while before either dropping back down or beating $18 and bouncing between $18-20. Those levels do seem to have been established in the chart. Charting largely works because charting works; people are familiar with it working so the behave accordingly and it's a self fulfilling prophesy. APT being extremely difficult to evaluate fundamentally means people look to silly arbitrary chart/technical cues to decide what to do, and accordingly I have my own set of triggers for APT too. Pretty confident about seeing close to $18 soon (and hopefully over $20 before too long, which I may or may not be holding on for, or I may get out and back in before then).
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"self fulfilling prophesy" = correct
