I like his videos etc... but surely as a chartist you have to consider the fundamentals as well. As you rightly said the slip is due to production in 2015 - that is a fundamental consideration not a TA consideration.
Like wise the reserves upgrade will effect the TA etc etc etc
Zak Mir is a professional chartist so his interpretation does carry some weight when considering price movements and predictions. Since most automated trades rely on chart data to predict and place trades it is likely that the price will move in the direction he has suggested. I know holders will oppose his views purely because it goes against what their 'emotions' tell them.
The hard reality is that the BoD are responsible for the SP as it is now. I have no doubt that we would have been in the 140p region or higher had they not changed the production date to 2015. Most people would have had no problem with waiting until end of this year or middle of next year, but now the goal posts have been moved another couple of years.
This change in timescale has delayed the uptake of shares by institutions and ultimately will depress the sp for a while yet. No ii will want to lock up their cash for 3-4 years without a return.
He has still failed to acknowledge thought that the TA playing field has been rather changed for XEL since the RAR update, and whilst he is quite right in saying that when supports are broken there is likely to be a downside, he fails to mention that the old channels and supports were based on the companies old data, so we are essentially starting from scratch IMO.
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