Somethin tells me we have a non-believer in the house. Well well well if you cant see that we are in second leg of significant UPWARD move then sorry for that. We just blowin off some of the overbought condition then get right back at it. IMO
Suit yourself. Charts are tools. They don't predict but they can be predictive models if people know what they are looking at. Many traders will act based on the chart so in a way they are self fulfilling but the fact is if you know that then you know what to do when you see a prticular pattern in a chart.
Of course there might be other things to consider, like knowing the stock's story and history. Many stocks trade in patterns and seasons. ERHC is one of them.
A golden cross is forming and that is telling us that something is going on with the stock. The trend is obviously up but if you didn't know the company and didn't have a chart then how would you know what to do?
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