Charts and patterns are interesting...often encouraging, but sometimes they don't tell the whole story, IMO. There are so many factors that affect a share price, that a chart alone cannot predict the future. The chart can only reflect what has already happened to a certain point, and that is based on the information that was available to that point. The moment new information comes into play, the forces that move the SP up and down have changed, and the trend can change.
For example, when you look at the CCWW chart, you can see how the events and news over the past months have played their way out on the chart. I think the commentary on the dragonfly doji is correct - we have have hit a point of equilibrium - a holding point waiting to see where we go from here. But, we also know that news is pending anytime, and news will trump the chart and set us on a new course...hopefully that course will be a continuing upward climb as we find out more about the real value this company represents.
JMHO
NorthLion
I am on the cheapie plan, so can't PM. Please use email: lion@ldj.net
