I think I will always be an FA investor although I do like a short trade (not day trading - don't have the time to put into it). I am really interested in TA though, because FA involves a lot of buying the story (easy to do with slick investor presentations etc) but TA is where I think the FA investor can be a bit clever on valuing something - especially those companies that are on the journey to commercialisation (revenue) which are easier to price on a P/E and growth basis.
Once upon a time I thought of TA as the dark arts, the overlords of the daily machinations of pip trades, but I have really come to like using TA (in a relatively simply fashion) to pick price points where I want to buy and it has many times now allowed me to buy cheaper than I would have if I just ripped in from the start. I don't doubt games are played and manipulation through algo's and bot's occurs, nobody can deny this (and did you also notice in the case of IMU that got exponentially worse once it entered the ASX200 index?). As each support has fallen since I opened the position I have bought the dip, and to rebalance some gains on other stocks I did let go of the first parcel to lock in the loss, but was buying at the other end.
IMU has been in a descending channel obviously since the peak but I think its ready to push above that channel and breakout. Today a close of 26.5c or close would do me nicely, and an open on Monday at that point or above may be the signal to hold on. Of course, you can't control news or global events currently, but the last two closes and that one single share traded for the day to keep it under the daily VWAP is not some moron just up to mischief, I think thats a deliberate reigning in from nudging into and above that top line of the descending channel. Just an opinion.
Of course there are other negative outcomes from the current relaxation of the sell side pushing down, I would be looking for the buy side to start leap frogging the order prices above to get in front soon, and if not, there's always the potential that if they stay where they are that the sell side starts to build again and then right on point the buy side orders disappear and they collapse and potentially push through the 2022 low. Seen that happen before too, it breaks the back of investor sentiment when it does, and shakes out a lot of stops to accumulate on the way down as well.
A market update on trials would be fantastic right about now.
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