Interesting perspective Mickeebee. Maybe when I was younger I was a bit the same, and had a similar view. I have always been a fundamentalist, and it's served me well.
BUT with the passing of time I have widened my blinkers somewhat. Perhaps that's because whilst I know the fundamentals control the valuation, I've realised the market seems to consistently be at odds with the valuation - that I believe can be explained by the people's (ie market) emotions. That can probably be more effectively displayed by the charts.
So nowadays, whilst I rely on my fundamental view, I'm also looking at the charts, and very happy to hear from the more technical savvy chartist, to get a reading on "market sentiment".
But everyone is different - that's what makes a market.
(From an amateur chartist my view is MAY is going UP, but the next announcement might give us more of an idea - and it might be tomorrow.)
MAY chart, page-11
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Last
2.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $67.40M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 2.0¢ | $14.09K | 702.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 8013330 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 1793039 | 7 |
View Market Depth
| Last trade - 11.41am 09/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |