Firstly Kate has given a good rundown - the thing with the markets - they constantly change and evolve - the more technical analysis that is available the more that certain players trade in a way that covers their tracks - they are cunning and play bait and switch with the gullible -
What we try to do with chart analysis is anticipate different things that give us the edge - these days it is quite common for a stock to be sold off on good news - this in itself should encourage any smart fundamentalist to learn the basics in charting - there are so many different approaches ….
Charts tell a story - if you go back and analyse what they have done in the past in certain news events etc it just gives and insight into when a stock is preparing to run - Or when a stock is reaching the top of a certain rise - there are a lot of different situations - A good company will be perhaps harder to read - as the management and employees stick to the rules -they shut up - so big news events are indeed a surprize that will be chased ---
The charts I have posted are my attempt to pick the story apart - right now we are waiting on anticipated results - traders will buy and when stuff doesn't happen fast - they get bored and (cranky ) and dump their stock - the thing to look for is what the price does - is someone stepping in an mopping up that stock ?
these things can be assessed to a certain extent with charts - I like fundamentals and will usually base my analyses of the chart with that in mind -
If it is a flash in the pan daytrade I will go purely on what the chart and volume are doing -
All trades have a different criteria and there are different tactics in all trades- Us little folks are playing against the house -
So if you care to learn there is a wealth of information out there - there are no guarantees - often a chart is as accurate as the person that reads it - charts are probability of crowd behaviour -
Have a look on you tube - start with the Wykoff method - you never know you might get the spark and go on the journey of learning how it all works![]()
Charting Only., page-27
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Last
5.6¢ |
Change
-0.003(5.08%) |
Mkt cap ! $416.4M |
Open | High | Low | Value | Volume |
5.9¢ | 5.9¢ | 5.5¢ | $2.898M | 51.11M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
41 | 4186955 | 5.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.6¢ | 337877 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 50000 | 0.060 |
3 | 120001 | 0.056 |
31 | 2967929 | 0.055 |
18 | 2606003 | 0.054 |
17 | 3377680 | 0.053 |
Price($) | Vol. | No. |
---|---|---|
0.056 | 303681 | 1 |
0.057 | 381857 | 2 |
0.058 | 460000 | 3 |
0.059 | 545041 | 6 |
0.060 | 323488 | 5 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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