when a person only relies on news and earnings it sort of like rowing a boat with only one oar!! charts show where resistance (place where people sell) show support (where people buy) and gaps which are suppose to eventually fill-(astea has a couple one in the 20's). the formations show trends which can indicate direction. the news on erickson-please tell me how much that adds to earnings since neither analyst has up'd their huge .04 for 98!
Somebody needs Decaf.
The fact is charts ARE helpful because it illustrates the general volatility of a stock, and if a stock is currently in a peak or a valley. I.E. if a stock is a flatline or a Mt. Everest.
And then of course charts alone surely shouldn't be the only determining factor as to whether you buy or sell a stock. You need to take all the factors...P/E...Insider trading...Earnings...Analysts recommendations...Etc. Then you do the best you can to make a wise choice.
By the way, I found the flagpole analogy quite helpful. It helped me to visualize what to expect of this stock IF no other news is released.
according to the chart readers what did it tell you the day before the Ericcson announcement? And what did your chart tell
you the day after? No chart on the planet can tell you what's going on in the board room and no chart is going to tell me the
price of this or any other stock next week or next month. If your charts were so damn reliable you wouldn't be reading message
boards - you would have been retired a long time ago sucking down kamikazes on some beach in Tahiti. But what the heck, whatever
turns you on. At least your spouses know they can always fall back on the old Etch n Sketch whenever their at a loss for a
birthday gift. Here's hoping all your charts go thru the roof...
Flagpoles? Pennants? You sure that wasn't a triple mailbox flip?
No disrespect intended but this is kind of silly. This stock is NEWS DRIVEN and announcements like the Erricson one should follow. That is what should make one dive in and purchase - not because of some goosed mallard formation or whatever the hell picture the damn chart looks like. Let's read the WSJ or IBD - not the Ouiji board.