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.
IHL Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
