IHL 0.00% 4.1¢ incannex healthcare limited

Just wanted to follow up on this from a few days ago.Today, we...

  1. 270 Posts.
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    Just wanted to follow up on this from a few days ago.

    Today, we have a decent buying volume into the ask, whereas the last 2 days we have struggled to have anyone willing to move up, it's been a consistent case of buyers sitting below and waiting.

    On the chart, it's been a number of doji signals which can be indicators of a few different things.

    sometimes exhaustion, sometimes lack of interest, sometimes a pivot.

    The salient point here though is nothing has changed with the company during that time period.

    I do enjoy analyzing the charts, it does help when I short term trade stocks but relying on charts only is a high risk proposition.

    There isn't a technical indicator that's reliable to tell you how a stock will move on a given day, which is why the T+2 folks baffle me completely, it's a total gamble.

    The technicals are interesting and useful, but there really isn't a substitute for fundamentals analysis, an investment thesis based on that and solid nerve and commitment.
 
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