Maybe I’m just an idiot, but I don’t see how technical analysis is any different than trying to find patterns in past lottery numbers.
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Maybe I’m just an idiot, but I don’t see how technical analysis is any different than trying to find patterns in past lottery numbers.
Well, sometimes it helps to try to look beyond its own plateMaybe I’m just an idiot, but I don’t see how technical analysis is any different than trying to find patterns in past lottery numbers.
Maybe I’m just an idiot, but I don’t see how technical analysis is any different than trying to find patterns in past lottery numbers.
Broke nicely through resistance, supported by good P&D number, and the day ended just above 235. Breakout was clearly anticipated by Mr Market.
Is there a new trend channel in the make?
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@Navin and others re longterm Downtrend Line break:
Curious, I saw on many charts that it broke the downtrend, but I did see one chart where it didn't. So I went to tradeview and drew the lines myself. Turns out on the normal scale, it broke; but on the log scale, it hadn't (just touched the top). See pics attached. So, hmm...
I actually expected it to climb higher Wed, but we can write it off to 4th of July mischief. The test will be next week. But seems like the analysts and media are pushing the narrative that earnings will be bad and this is a fade into earnings. Being a news vacuum from now until earnings, the stock may in fact fade. I don't have a strong opinion here. I think it could go either way, but I'm leaning slightly toward it going down into earnings, and then going up afterwards. Not going to trade it either way, but I will add shares if it goes lower.
(Bear in mind that if it does in fact fade, it can still stay above the channel/downtrend line (on the normal scale), if it fades slowly enough -- see chart/pics.)
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This thread is dedicated to technical analysis. The members posting here believe it is a valuable tool for their investing decisions. Everyone can express scepticism about the usefulness of TA, but this is not the place. Any further posts questioning the value of TA will be removed.
A mod moved it to this thread. I didn't post it here.
Also intraday today, another cup forming.Nice cup and handle dressing up
Waiting for confirmation of breaking upper border of falling wedge right here at $238. I still see the downtrend intact.
Waiting for confirmation of breaking upper border of falling wedge right here at $238. I still see the downtrend intact.