Charts obviously can only show the past but to dismiss them as irrelevent, well that is your choice but would never be mine. Both technical and fundamental research is important I believe.
As I said in my post volume has been anemic and 4.7 is a prior low so if it holds a double bottom would signal a great buying opportunity. OBJ represents a large part of my portfolio but I will not fall in love with it as I have been caught out before as I am sure have many. I personally believe that this will prove to be a once in a lifetime buying opportunity but have decided to wait for a turn in sentiment and momentum and the chart will be an early indicator of that.
I used charts to enter 4 of my 7 shares in the last 3 weeks that fortold of a turn around and am up 25,35,60 and 80% after watching them go down like OBJ for months. As I say each to their own but it has proved a good tool for me and I consider myself average at best.
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