RE: 2.1026 Feb 2021 13:54
@wyndrum
Hi, just catching up on messages and noted your post about the share price technicals. While none of us have a crystal ball, so while I'm not disputing your methods, I wanted to share my thoughts for the interest of other investors, so please don't take this as a personal reply.
Many years ago I got involved in spread betting on on of the many platforms available. Forex was my thing but charts are charts right? The price can only go up or down (or stay the same, to some degree). Needless to say, I lost sizable money, as the vast majority do.
I would have done better by automating instead of real time trading, but that's another story. My point is, I went down the technicals of charting rabbit hole, along with trying to note the fundamentals, after some breaking news upset the apple cart on a deal I was up on.
So my point is, it can be alluring to see patterns from the charts past, and project them onto the future, and can work, I'm not disputing that, particularly if lots of others are trading with the same mindset, as that will reinforce any trends.
But, shares are not just a price that has input from EMA's, support and resistance, etc, they are also moved by events (fundamentals). My thinking is this stock is particularly susceptible to news, (i.e. RNS's, rumours).
So while I am not disputing your technical analysis, with AVCT, I feel PI's should look more to the fundimentals.