I am not familiar with Swingtradebot however it is a technical analysis tool that analyses a stocks price movements from a technical analysis perspective. IMO technical analysis is of limited benefit when analysing and assessing small resource, oil and gas stocks. This is because these stocks are overridingly news driven i.e. if they hit gas, oil or a mineral deposit they rise aggressively, and if they don't hit paydirt the shares fall sharply. So in other words, in these situations technical analysis is of limited (or no) benefit.
Technical analysis may be of more benefit when analysing the price movement of very large liquid stocks like the big 4 banks, where hundreds of tech traders are analysing the same stock, possibly reaching the same conclusions by using similar technical analysis techniques and IMO sometimes their hypothesis may then may become self fulfilling.
MEL Price at posting:
2.8¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
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