Chief,
I am a TA and have been for 22 years now. Like all things in life, it takes many variables to make an accurate evaluation of any situation.
i.e. > Three weeks ago I came across a beautiful chart that had virtually no downside. It was at $0.07/sh. So I bought in all week at that price.(most of the time I never bother with the name of the company or what they do) All of a sudden the price moves up to .09, then .11 & .12
Then a week later the chart told me there was not only consolidation going on, but aggressive accumulation as well. So I bought 5 times as much at .14! When it closed 2 days later at .17, I then got smart and phoned the company. They have been working on research for aids with monkeys and had some initial success in phase one trials. Now there are more very impressive results and it's looking tremendous.
The stock is Immune Network Research (IMM on vse).
So, my main point is that the real sophisticated research utilizing TA actually reveals all that is going on with a stock's insiders, the shareholders and all other factors that affect volume/price movements as well as other critical factors.
When there will be some imminent news forthcoming about Pyng's activities, the chart will show it in some way! But like everybody, the difference is what one can read into & from the various "signs" that are hidden within. (moving averages/trend lines/cups & handles, etc)
Hope this helps those who think that one way, is the only way. The point is: the more research & sophisticated tools one has available, the more chance they have to avail themselves with indicators of nearer term trend reversals or breakouts, one way or the other.
All the best,
Mark |
