I look forward to your later post BT.

I didn't say TA doesn't work - it can do in some cases if enough investors believe it. I'm simply questioning whether it's a good idea to apply it to a share like MPIX at the current volume levels.

With regard to the "W" pattern, the much more significant factor from your chart is the volume - when it remained in the doldrums the price fell - i.e. no interest in the stock. As soon as the volume starts to rise consistently, the price starts a rise and fall move up, as you would expect.

What is so special about the letter "W"? Do Arab markets follow their alphabetic letters? How about the Chinese markets? Do their technical analysis traders use their alphabetic patterns?