Of course, and no one has stated that a chart can predict such a...

Of course, and no one has stated that a chart can predict such a thing. I certainly didn't!

I am glad we're up nearly 50% from our most recent low. That's the issue with relative increases, though! It is a 63%~ decrease from our all time high of $24.97 down to $9.19 that we traded at last month, but we'd need a 171% increase to get back to that point. Despite the 50% recent price increase, we're still down 40% over a 12 month period, and we all know that those 12 months have been fantastic for the company.

My point about the chart wasn't that they have super magical predictive powers, rather that it is useful to see whether a long term trend might be broken. This can only be seen in retrospect.

My secondary point is that whilst many of us (myself included) don't think technical indicators matter in investing for the long run the fact is it is just the reality of modern markets that they do have some impact. The Nasdaq estimates over half of all volume is placed by some type of computer trader or algorithm based trading pattern. That's just an estimation, many would claim the actual figure is much higher. This trading is made up of spread matching, arbitrage trading, trend/momentum following (mostly following technical indicators), liquidity detection/sniping .. the list goes on. It seems to amplify mispricing in our market to extremes based on parameters such as momentum. Then there's the obvious examples ala the flash crash. All I am saying here is that perhaps if we tick a few boxes on a computer screen we might see some more rapid movement to where we think we should be valued.

I have been holding this stock nearly a decade so I am a long term investor who cares about fundamentals only but I thought that this point would be an interesting discussion point given we're talking about other speculative short term topics (such as shorting) and what impact (if any) it is having on the share price.