To be honest, I do not consider myself a technical analyst. I didn't know the term golden cross until Clay Trader mentioned it in a youTube a few weeks back. It was when he switched to the WEEKLY chart where the 200 day average has remained above the fifty day average. While I don't do technical analysis, I've been reading Wave Charts for a decade and what the technical guys call analysis, I call common sense. If a stock is topping out it's pretty obvious. You don't need 20 and 10 and 50 day averages to see the stock is falling. Obviously, the chartists use the lines and breaking them becomes important as a "signal" so a whole bunch of people do the same thing on cue -- and the signal is confirmed.
Within a day or week, the fundamentals take over and the stock's core value becomes under or over sold. Like much else in life Semantics is substituted for reality, but in my world, REALITY RULES!
I think this stock is worth $6 a share based on clear earnings that are down the road this fall and winter. I don't need the charts unless I'm trying to make money on every trade. I've lost enough times that I don't think an always risky trade is worth the sure thing of this stock going up. Playing against the market makers and professional traders is like expecting to win the Masters when Tiger is playing.
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