So you answer a question about the 100MA saying it hadn't broken when it had, then quote the 90MA to confirm your throw-away comment that SP goes up and down (like we're blind to volatility), and fail to acknowledge the current SP broke up through the 100MA on Monday, back tested it Tuesday and bolted forth closing 0.47 above it today. Sure the SP goes up and down, though the question was whether the 100MA had broken, and it had.
I hope this won't deter you from continuing to practice your TA, firstly by starting with a decent chart tool. If it helps, don't waste your time TA'ing ATM, it's illiquid compared to the ASX where A2M gives off strong TA signals, those that can actually be traded. An important TA signal happened today, and it's not an MA.
As good as Hoots is no one knows where this stock is going on a daily or weekly basis, the shorts won't be giving up that easy and with the Insto's back on board to play games next week expect more tree shaking before the result.
As good as Hoots is no one knows where this stock is going on a daily or weekly basis, the shorts won't be giving up that easy and with the Insto's back on board to play games next week expect more tree shaking before the result.
Watch the shortcoverings - 1.3m shares covered since Dec 21st when sp fell to six month low of A$9.05 and sp has rallied 20% since!
Draw enough straight lines and it looks like a chart can confirm any bias.
Pretty sad dismissive post of TA.
I've previously posted here details of over 22 trades that had gained me over 2000% gains in ATM which now accounts for 60% of my portfolio - Free held. TA guided me throughout.
I've previously posted here details of over 22 trades that had gained me over 2000% gains in ATM which now accounts for 60% of my portfolio - Free held. TA guided me throughout.
So by all means dismiss TA..... it's your loss.
A day or so ago TA was all a flutter with excitement with ATM hitting $11.50 having apparently broken the all important MA100. Now its back down to $11.36 - something I didnt see the Chartists predicting.
I stand by my "usual up and down" trend statement (which is stating the bleeding obvious with ATM.) and will add that no tool can accurately predict with precision the movement of ATM. Suffice to say it will go up, which is why I hold.
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