"Getting close to support again - really struggling with resistance ( pink circle ) unfortunately the latest rise was on very volume ! GRRRRRRR,"
Yes, but isn't the latest fall also on low volume? How applicable is Technical Analysis when most days we see less than $100K worth of shares traded? I think many of the investors here on HC own more shares than are traded on your average day at the moment (I know I do). According to TA, the charts and the share price are supposed to be a reflection of what the market really feels the stock is worth. But given the illiquidity of the stock and the fact that very few people are actually prepared to sell at these levels, doesn't that suggest the chart isn't the be all and end all? We're seeing fairly large bid-ask spreads and a lot of volatility in the daily share price. This makes me question the value of these charts. It seems I am not the only person who thinks that TA may be dubious in such circumstances:
Quote: "Technical Analysis is a study of price action, often using charts, with data points derived from past prices. The key requirement will be liquidity, providing sufficient meaningful data points for analysts to study the price behaviour. Naturally, the more liquid an instrument, the more meaningful the technical studies."
