it retraced due to some typos
@hot_investor, not because it was written in your charts.
Below is PLS and VUL for example still boiling on the ‘weekly” ; PLS gone through the ceiling on the daily and for an extended period of time; these along with a number of other resurgent Li stocks aren't following technical suit; why? Because the sector is now coming back out of hibernation and is bulking back up.
Some use full blown fundamental analysis in their investment decisions, some use a mix of both; then you have the technical jockeys / ‘technical experts’
whom wouldn't know left from right, but just focus on the graphs and whom unfortunately in rerate events, will jump off the train because the chart told them so; but the sector says other wise...good old
@treewallaby is such an example, as is the VUL chart below, it was well over bought well sub a dollar and still boiling and near $10 now ..if you had 20k invested when the charts signed it off as being oversold : you be looking back wonder what you could have done with that few hundred grand if you had of held.
good chartist such as h00ts are fantastic; poor or novice ‘chartists’just like to paint pictures and make everyone believe the story and these are particularly dangerous imo, when their decisions have left them running after the bus, as that's when they start to heckle the technical rules and how the price shall obey.
