Yes, definitely I share the opinion that news and fundamentals are primary drivers. For my work, TA is not so much a predictive tool, but rather a guide to look for good buy and sell zones, and identify price levels at which we may see reversals.
Often times the price action proceeds the news, as I believe it certainly did with HDY. Thus we may be hearing one thing from the company that creates hope, but the dropping share price warns that something is not right. HDY certainly suffered from an extreme dose of hype.
In this way, having an eye on the charts serves as a reality check, and we are less likely to "believe the hype" when we see a share price decline warning us that something is not right.
The ceiling is always higher in the darkness. - Confucius
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HyperDynamics (HDY)
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