"Won't make any difference regardless now with NWE IMO. Although it is likely there will be dips along the way, this little minnow is now headed for a fundamental re-rating IMO. Of course the charts will follow :-) A classic case of where FA prevailed over TA, not one ST trader picking up on NWE...before the news came out."
I enjoy your enthusiasm and no doubt you have every reason to feel pleased today, as should all holders, but how on earth can you make that generalisation? What you said above is just not true.
Case in point:
On the weekend I put up a pretty detailed chart on the weekend and made my call - in advance - on today's trading range based on that TA - I predicted a range of 5.2-6.0 and it traded 5.4-6.0. A lot more accurate than many of the 6-10c calls on the weekend.
Before the news came out on Friday I had been accumulating for the last 4 weeks in anticipation of this (FA) news.
FA did not prevail over TA - they actually work successfully together, and I've done very nicely out of it on this occasion as in many others, and I wouldnt be the only one. I dont understand why people feel the need to bash technical analysis - to me it shows a fundamental misunderstanding of a very profitable set of tools.
Sharks.
NWE Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
