INCANNEX HEALTHCARE LIMITED (ASX:IHL) - CHART Thread, 67030372, page-2869 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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telamelo

11,195 Posts.

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29/03/23

20:23

Post #: 67030372
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Originally posted by Lurker99: ↑

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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IHL Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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