RE: mcap24 Jun 2020 12:34
Mon 22 June, 10:53 - "these chartists make me laugh - if we dont break 90 and hold it , this will go down , however if we do break 90 and hold it will rise further - duh ! these dudes point out the inevitable in a way that makes them seem amazing , but you are basically saying - it might go up - or it might go down"
Often, chart patterns can take some time to play out and in the early stages there is doubt over which way it will go, that is why I sold only some, and not all, of my TSG shares. We accept the uncertain nature of some patterns and stay alert for changes and that is why key levels (90 in your example) are watched closely.
The company that I bought with the proceeds from my TSG sale had a very clear pattern (a double bottom reversal) that played out beautifully. It was as clear as crystal, and I have ridden it all the way up. The rise was broken by the market downturn because of the coronavirus, but it is now catching up to where it should have got to if the coronavirus hadn't come along. It has further to rise.
So you can laugh and mock, but your smug comment only makes you look a fool for your lack of understanding.
The charts are a great aid to playing the odds and, when used in conjunction with fundamentals, over time, they bring greater profits.