THAT'S BECAUSE SHORT TERM CHARTS DO NOT REFLECT OVERRIDING TRENDS. THEY GIVE MIS-LEADING CONCLUSIONS IF THE ANALYSIS CONCLUDES AN OVERRIDING TREND HAS CHANGED.
AS RESPECTS TRENDS CONNECTING TOPS SLOPING DOWN ARE QUITE APPARENT AND A VISUAL SHOULD SUFFICE. BOTTOMS AS WELL.
BUT REALLY, WITNESS THE CURRENT PX AGAINST THE LONG TERM PICTURE. NO TECHNICIAN WORTH HIS SALT CAN STATE THIS STOCK IS IN NOTHING BUT A DOWNTREND.
IF THERE WERE TO BE CONTRARY CONCLUSIONS DRAWN FROM VERY SHORT TERM CHARTS ARE MADE, THEY'D HAVE TO BE MADE FOR VERY SHORT TERM MOVES WHICH HISTORICALLY HAVE ALWAYS REVERSED TO THE OVERRIDING DOWNTREND.OTHERWISE THE STOCK WOULD BE BE TESTING IT'S HIGHS NOT ITS LOWS AS IT IS.
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