No. What they can do though is show us when the downtrend begins to weaken and when it ends. That's all you need to know - there is no need for predictions.
"Technical analysis is the study of past market behaviour to determine the current state or condition of the market" Rotella 1992.
Chart update. CEN has now broken below its long-term trendline, confirming the medium-term trendline break "Sell" signal posted on 12/10/2005. (Medium-term trendlines are shown in magenta)
PHAEDRUS, My time line system is in total agreement. If you take the starting price at $2-20 as the starting point at the jan 2000 year then draw a 20pc time line in advance look at all the trouble you would save yourself.
Lets have a bit of fun in hindesight and compare. 2001 = $2.64,
2002 = $3.16, 2003 = $3.79, 2004 = $4.54, 2005 = $5.44, 2006 = $6.52,
Jan 2007 I require the sp to be $7,82 less what ever level i placed my stop loss. I would be holding with it on close watch at this moment in a long term portfolio. It has been a great share to hold long term i chose TPW to best it in this sector, which is proving so far to be the better choice from when i bought in oct 2004 at an average $4.84. macdunk
Ah yes Duncan, but there is a big difference.
I posted my Sell signal way back when it was triggered.
You are only just now telling us about yours!
PHAEDRUS, My one has not triggered so far but it is close.
Draw the line at jan 2006 at$6.52 to jan 2007 at $7.82 then allow with a long term hold like this a 10pc stop loss. I am not saying i am right or wrong i dont hold this share but that would be my sell point. I think that a close to seven year hold at 20pc plus dividends deserves a bit of leeway with a 10pc stop loss. If your system says sell, then sell, my system says hold on close watch. What i found interesting is the closeness of the sell point after six and a half years. macdunk
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