Pore,Is it really that easy to read a chart? Are your comments...

Pore,

Is it really that easy to read a chart? Are your comments backed up by gut feel?
As the comment you have said could apply to any chart in a down trend & I struggle with this point -" that the price has been in a downtrend and that left to it's present trajectory will descend close to zero."

Zero, really so what is this based on?

I'm sort of having a go as I want to understand where you draw your conclusions
from based on the chart you have posted.

Here's a chart I prepared earlier :)
& without knowing fundamentals, one would so it has bottomed & is looking to go up.

Reasons..these are only a few

Historically on this stock when Stoch, CCI & MACD are in the oversold position (as they are now) & we have two inside days...Look at 19/12, 23/9, & 15/6 & numerous earlier times (chart gets too messy to post).

I don't disagree that the price can't fall further. Next support level looking to be 3.6 to 3.8.

Tomorrow will be a good litmus test. However my concern would be if it was to fall on volume
(say a 50 -100 mill day) with the exodus of larger position holders as opposed to the noise generated by traders.

If we have a up day with a higher close (ie green bar) engulfing the last 2 or 3 days
then it will be the start of another up trend as previously demonstrated onthe chart on the above listed dates.

M




Fundamentally if this is sound,