SP today, page-36

Vendor, I use TA often as part of my trading strategy. However investors may have differing strategies and the ups and downs of charts do not concern those who dont want to trade the stock but hold for longer term. I trade many stocks and use TA in the process along with other considerations. However some stocks may fluctuate but because I believe they could at any stage move quickly to the upside I may choose to hold rather than trade.

I have no problem with anyone presenting their projections based on TA. I regularly trade based on TA signals myself. However, I never suggest anyone should buy or sell as we are not licensed to provide such advice and it would be improper to do so.

TA is fallible also and you can get one indicator that gives a sell signal but another from another perspective does not. further if a stock does go up on any given day why should holders not feel good about it. For them it could be the start of a turnaround, another trend and you yourself have acknowledged that things can quickly change.

If there is an announcement the chart not being a crystal ball cant predict its impact until after the event. All trends have to start some where and usually there is a reason behind it. Many on this stock anticipate that there is potential news to come that makes them believe the trend will change to the upside. They are entitled to that view whether it eventuates or not.

Good information from charting are the support levels as in the absence of substantive changes to fundamentals they can serve as a guide to TA traders.

cheers