RE: Pipe Dreams2 Jul 2025 22:54
Spicy “ Myoung technical trading is a hindsight effort, impossible to know what will happen as it relies on news.”
That is such a naive and inaccurate statement. If technical trading were not a fact then why is it used by so many traders - successfully - who are not bothered by fundamentals but instead rely purely on technicals. OK I don’t think that you can use technical trading on a small illiquid stock, no. But ITM is a very liquid, very well traded high profile stock.
News can be an important element of stock price movement yes, but I would suggest that ‘sentiment’ is THE key element which overrides all else. You don’t necessarily need a raft of good news or,indeed, bad news to affect sentiment. We have seen this in the past. And sentiment can be clearly seen on a stock price chart.
So no it is not all about ‘news’. Plenty of other factors come into play too but, for me, none beats sentiment for a more prolonged consistent move in share price. Up or down.
And we can see that sentiment has most certainly turned more bullish this year.