True, charts better explain things in retrospect. None of it is really matter-o-fact predictive, but it can show you things to help you make decisions.
In other words, if the trading patterns of the past continue they way they are going, it is likely that the chart and PPS will strengthen next week.
Obviously, there are many factors that could stop that in its tracks, but we only have the past to help predict the future.
Some are very hard core into charts, I stick to the very basics. To totally rely on technicals is just silly in my opinion.
But, mix the setup on the charts with what's fundamentally happening. Product should be up for sale in the next 2 weeks or so and the chart has pulled back, but held support. That means we are now no longer over extended and techinaclly have good room to grow with and event coming up that should be the catalyst for growth.
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