The chart would change significantly if lines were wiped down to 9c, but that's not low enough to change the 22c target and the 15c step. Having said that, a run down to 9c is an unlikely scenario from here, the probability is to the upside. The stops on our trades from this analysis remain untouched from entry, and as of yet I have not suggested moving them any higher. We may do so once this e21 bounce is confirmed.
I would suggest that the majority of people who invest rarely look at or consider the charts - perhaps someone has some statistics on it. Price doesn't move because of the charts or the signals, the price moves because of people. It can be a hard concept to get around, but in a simple way charts are a visual indication of the general emotion and sentiment of a stock. This ultimately means then that any technical signals generated and the move that follows is based on the same, rather than expecting a move to come from technicals. The technicals is just a way to identify the probability of sentiment and emotional moves.
IMU Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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