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Stock A is at $100 per share.

Technical analyst says:
If it hits the uptrend blue wave thingy we should we $150-225. If we hit that range, it should be a strong confirmation of a new uptrend.
But if it fails to hold $82, we could see $53, and falling below that will signal our count is wrong and we can expect a move lower.

Huh?

So if I buy at $100, and I hit $150 (a 50% gain) then I should start feeling good about the trade?
Conversely, if I bought at $100, I should start worrying that it may go lower after I am down almost 50%?

Genius.


Doom
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Not to say i dont find TA useful in conjunction with a stock I already like on fundamentals and valuation. It can be good for entry or exit points.

I just find some of it to be akin to retroactive pattern analysis: you can see whatever pattern you want after the fact and supply reasoning to explain it.


The Port of Doom feels like a ship entering turbulent waters with the J&J vaccine speed bump.

Seems like bad virus news is positive for the 2020 growth darlings.

That bad-news covid trade wont last much longer. Lets see if the charts validate me after the fact!

Doom
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If it hits the uptrend blue wave thingy we should we $150-225. If we hit that range, it should be a strong confirmation of a new uptrend.

I’m glad we cleared that up. I was starting to wonder.

AJ
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