Analysis5 Jul 2018 22:21
Basically, if there are enough ‘analysists’ all watching for double bottom, golden cross, MacD inverted trending tea leaf 50 Day upending apex underpant wedges, there comes a point when one buys a few and The ‘reversal signal’ occurs, and guess what, they all start buying in and the stock goes up.
The ‘chartists’ congratulate themselves and it confirms their ‘knowledge’.
Call me a cynical old Bean but I’m happy to wait for them all to agree on whatever Fibonacci wave we are in, and once the buying starts, I’ll buy to - but it usually corresponds to some interesting news that’s in the public domain, somewhere.