SRT 10.0% 18.0¢ strata investment holdings plc

Charting predicts the future based on the past. The doji does...

  1. 7,761 Posts.
    Charting predicts the future based on the past. The doji does not take into account an imminent announcement. Check CCF chart for a comparison of how misleading a doji can be if, the next day an announcement is made and the market responds accordingly taking the stock up 72%. The 'doji' of SRT is not taking into account a possible (any day) announcement, but was more likely a response to the China syndrome and could even be market manipulation.

    Anyone with millions of shares can sell a couple of hundred thousand to achieve a candlestick outcome towards the end of a trading day. I've certainly witnessed sales at end of day where sometimes even 1 share is traded at a price point to achieve an objective. So chartists will look at the final price and predict the future on that basis, not taking into account the volume traded at the end of the day.

    Given the miniscule amount available at 0.025 on Friday, anyone could have bought up to 0.026 or sold down to 0.024 in order to effect a final price and thereby blow the doji theory. Perhaps the price of 0.025 was also deliberate to effect a doji - who knows. Given the large number of traders and chartists on this stock, anything is possible. Personally, I'd rather trust my own judgment than charting (which was initially invented to predict rice and cattle prices) or even a chart where prices can be manipulated by human intervention.
    For chartists the “what” (past price action) is more important than the “why” (news, earnings, and so on). For me the "why" is more important than the "what" at this point in time for this stock.

    For some people to trade (sell) this stock down to 0.023 they must have had a reason "why". My reasons to hold are obviously not the same as their reasons to sell, and I chose not to follow their lead. Why?
    1. Because an announcement is imminent on this stock and every 24 hours we move ever closer to a potential announcement and I'd rather wait until the announcement which I believe will be positive for the stock.
    2. I'm not a lemming.

    Cheers,
    Tangrams
 
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Last
18.0¢
Change
-0.020(10.0%)
Mkt cap ! $30.49M
Open High Low Value Volume
20.0¢ 20.0¢ 18.0¢ $24.71K 131.2K

Buyers (Bids)

No. Vol. Price($)
1 26171 18.0¢
 

Sellers (Offers)

Price($) Vol. No.
20.0¢ 18475 1
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Last trade - 15.58pm 11/07/2024 (20 minute delay) ?
SRT (ASX) Chart
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