T/A is only useful when there is a driving force behind a stock one way or another. Thanks to you Joe, Firsova and others keeping across the fundamentals of what we have here and sharing it, it's fair to say the force is up. T/A is just the analysis of human behaviour as their wealth goes up and down. Fortunately humans are very emotional and irrational beings, if they weren't all stocks would just be priced on their earnings ratio, like a bank deposit. Now that would be no fun at all would it?
There are a good deal of traders that wouldn't trust a chart like PGC's without seeing a correction similar to the one above. I don't "trade" much, but I'm still very unlikely to buy into a stock that has had such a stellar run without seeing what happens when the music stops for a while. For what it's worth I'm freeing up some cash just in case of the red line, but I'm tempted to buy right now, and probably will.
PGC Price at posting:
58.2¢ Sentiment: Buy Disclosure: Held
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