KZL 0.00% 12.0¢ kagara ltd

Declaring a triple/double bottom etc. over a short period is a...

  1. 897 Posts.
    Declaring a triple/double bottom etc. over a short period is a common mistake made by the millions of so called tech analysts.
    What Dan has claimed, ocurred in a space of less than 1 month and should not be considered a triple bottom because of the short timeframe. A short timeframe in the market doesn't warrant any creditable prediction whether it be tech analysis or from a fundamental perspective.

    In the same period that Dan has used to determine a triple bottom for KZL, the XAO has actually moved upwards significantly while KZL has tracked sideways. So if any conclusion can be made from that period, it's that a lack of positive sentiment surrounded KZL(or it's sector)in comparison to the rest of the market, and therefore, predicting a substatial rise of about 75-80% to $1.48 from there is unfounded and incorrect BASED ON THE ACTIVITY AND THE TIMEFRAME USED to predict the rise.
 
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