Hi
@PDK ... I don't have any 'problems with charts'
! However, I agree some people do either through ignorance or not recognising patterns and their use/potential.
I do, however, agree with some of what you have said in this post. Particularly ...
"I strongly believe that investors should avoid holding their shares with brokers who facilitate share lending for short sellers. This "service" is detrimental to the investor but benefits the brokers and short sellers."I also can't really dispute your claimed breakout(yesterday) of your S/T DTL(from the 090922h). It is shown by the blue DTL on my simple chart below. However, on a Daily chart basis, that is the least important of the DTL's since the April high. My chart I think highlights this. I have also shown the 2 Buys/1 Sell I have initiated since the July low, all basis some simple TA signals. I usually buy in 3 tranches ... 1st 1/3, 2nd 1/3 and final 1/3rd. I have currently bought 2/3rds my intended exposure. Today's action "BUY" is the more conservative TA Buy signal of all 3 Buys shown and would be used by most traders/investors.
You also made reference to yesterday's close breaking, I assumed, the 20sma ... well just but you may be interested that I find it very useful to use both the sma and ema of the same 'periods' on the chart in order to smooth out crossovers signals. You'll note the 20sma/ema has yet to give a crossover buy signal again. However, today's action range was above both so positive anyway.
I do use Decision TL's on the RSI's for impending breakouts and resistances as it is a leading, not lagging, indicator and often gives their signals a day or two before chart TL breakouts ... have for decades. I strongly believe these TL's are more valuable than the traditional Over-bought/early divergence signals most TA books promote and therefore traders use.
Note(shown by red arrows) the similar DTL breakout levels(dotted and full red DTL's) ... ~ $1.02. Often a companies initial breakout SP is revisited to form good support. Well in the case of LKE we fall some 12c below that level but with good signs of accumulation(ie...initially high vols but falling away as range traded just above and below ... until today's breakout).
Anyway, enough of the waffle ... Will end by saying it will be interesting to observe the next couple of days ... GLtah's.
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