I trade solely on charts. Often, all I know about a company is its three letter code.
A chart shows the effects of every day's trading, every major announcement, capital raisings, whatever, etc.
To a chartist, the circumstances behind price movements are secondary to the actual movement itself. A capital raising is not the only event that could cause a share price to suddenly drop. But the effect on the chart is the same.
Chart trends and patterns can tell us a lot about a stock and most of the time can give very solid forward indications of trend reversals, breakouts, consolidations, accumilations, etc.
And whether there's a doubling of shares or a GFC or a cyclical bear market, we can never be certain of how high or how low or how fast or how slow the share price will go.
CTP is only as good as its last announcement and the effect/ineffect of that announcement on its share price.
I don't need to know the contents of the announcement. The chart will show me whether it was good or bad.
Cheers, 10cents
CTP Price at posting:
12.4¢ Sentiment: ST Buy Disclosure: Not Held
