Depending how you extrapolate it you can still end up with a downtrending channel crom the 11c high days, or a trend down, then back up when we broke up to the 9.1 recently, and back into a very gentle sloped downtrend.
It's all very subjective of course. Charting should have a general consensus on common points/items, but it also has its deviations based off people's opinions and how they shape or frame things in their mind (which can be a detriment for many unaware of their bias to form the opinions they want and not what the chart is just telling you). For the person who posted above and got the angry rebukes (what did you expect) on the hocus pocus nature of charting - fair enough, why bother coming onto a charting thread if you don't believe in it? But what I will say is both TA and FA are equal toosl in a tool box. Use what works for you - there are enough succesful investors, traders in both camps that it doesn't matter what your argument or beliefs are - both can work, but like any good tool they work only in capable hands. Frankly I'm a believe that you should use both tools, and more so what you're good at, but educating yourself and becoming proficient in both to me gives you the best shot at it.
There's alot of nostradamus chartists, but at the same time the one in a million, actually capable chartist can and does make money. it's not just all hocus pocus as essentially it combines price patterns - which is representative of what a stock is doing: supply and demand, psychology and momentum, to form future decisions. It is essentially the science behind mathermatically and graphically interpreting price and volume. In its simplest form - a great company kicking goals will more than likely (probability wise) form higher highs, and lower lows as it makes more money and is profitable to competitors. And that will show up on a chart, and to a fundamentalist.
Anyone making blankey statements about either TA or FA such as @discerningstarter will merely be on the backfoot as my experience is anyone with a closed mind is always going to be on a backfoot in their own learning experiences. How else can a closed mind learn as much as possible and sort out what does and doesn't work out for them? It's like the baby boomer refusing to take up new tech and resorts to the old, slower and less efficient methods they know best.
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