Elliott Wave is just one of the tools I use to analyse where price might go. I find it quite valuable to my trading and I suspect if you polled some chartists, they would agree it isn't perfect (nothing is in share trading) but the majority would see it as adding value to their decision process.
As for probabilities they are not equal - it's not always just the toss of a coin. If price has been moving up for a time it has a higher probability of continuing to rise, rather than fall. If the US market has had a positive day then the probability that any highly liquid stock on the ASX will rise in price is greater than the probability it will fall. For me, charting is all about weighing up the many alternatives and picking the one I think has the greatest probability of success.
Your comments about the merits a company has as an investment if based on fundamental analysis whereas I don't need to know any of that to trade a stock successfully. I trade 95% on chart patterns and 5% on fundamentals.
Anyway, we clearly analyse our investment opportunities using different processes so probably best to say we'll agree to disagree.
Good luck for tomorrow.
Elliott Wave is just one of the tools I use to analyse where...
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Last
$1.16 |
Change
0.005(0.43%) |
Mkt cap ! $1.264B | |||
| Open | High | Low | Value | Volume |
| $1.14 | $1.19 | $1.13 | $12.72M | 10.95M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5215 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.16 | 31770 | 4 |
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| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$1.15 |
Change
0.005 ( 1.14 %) |
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| Open | High | Low | Volume | ||
| $1.14 | $1.19 | $1.14 | 1743719 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| ZIP (ASX) Chart |