oil chart, page-476

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winkelmeier99

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06/04/21

21:46

Post #: 52283934
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Originally posted by BuffettWarren: ↑

Charts are obviously a representation of historical data and 'try' to predict where the future price will go. There is evidence that the fact humans are emotional, the charts will give indicators of what the herd is thinking and thus gives an idea of which way the price may go. My feeling is they are only useful for traders, or when choosing an entry or exit point. Long term holders like many on here need not be concerned with charts as they are not controlling the price, only the company's fundamentals do that.

A positive or negative company announcement telling the herd exactly the reality of the present and near future will no doubt turn the predicted price movement as per the chart into irrelevance. Some of the emails from chart 'gurus' I used to receive would give me excellent advice such as "in the near term the price of xyz could move up to $2.67, or it could move down to $2.35." Great.

Fundamental analysis makes much more sense to me as it is based on the balance sheet and future possible income generation / expenditure with company announcements. I guess the chartist is hoping other people are doing it and all the analysis is being shown in the charts. If enough chartists are following and acting on data, the charts can become selffullfilling in some ways though.

With lack of announcements with OIL, we are left with guesswork and hope. So the price could go to $.30, or it could go to $0.15. Dory can give better 'support' levels with the charts, but the announcements of sales over the next 12 months, or lack of them, will see the price go either way, not what the prices and volume of sales over the last few days, weeks or years have done.

Expand

April is oral-cancer awareness-months-2021 and it shows what huge market is waiting for Optiscan's InVivage worldwide and sales of OIL's Invivage will be a hell of a success.
https://oralcancerfoundation.org/april-is-oral-cancer-awareness-month-2021/

above is a message from NEWPORT BEACH, Calif. but I also received a message today from my Australian Dental Clinic "Maven Dental Group" that this awarness week is worldwide and I gor already invited to have my oral examintaion!
InVivo sales will shoot up , hence charts will look positive too!

OIL Price at posting: 22.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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