You heard 'em, time to close down the "Chart" thread! ;)In all...

You heard 'em, time to close down the "Chart" thread!

In all seriousness, of course charts don't work on small caps like they do on the big blue chips. That's not to say that they don't have some insight into the SP. My take is that because algorithms do form a substantial amount of current trading, and since they typically incorporate some TA into their logic, it can actually have an impact.

Apologies as this is not the Chart thread, but in order to support my thesis, take a look at the fib retracement for SRL. It's quite clear that the levels have been meaningful in showing price support/resistance on the recent descent (N.B. $1.31 is the 12-mo low, on 23 Aug 2021)



I don't actively trade, so I don't rely on charts, but I do still find it useful for identifying supports and resistances where I might be looking to enter or exit a position.

I do completely agree that getting funding and building the mine, as far as moving the SP substantially and with any conviction, is all that really matters at this point.

All IMO, DYOR.