Y'ou're right, they're using bad charting claims t
Post# of 72440
Posted On: 08/24/2016 9:29:51 AM
Y'ou're right, they're using bad charting claims to try to bash the stock. Most people don't understand real technical charting, and it's easy to fool most people by doomsaying of the "look at this horrible thing here" school. However citrati has posted a great chart elsewhere which shows exactly why they are so worried about us getting above 1.40
http://stockcharts.com/h-sc/ui?s=CTIX&p=D...6682219370
See the "mirror symmetry"? The stock goes down, then it bumps up again a little bit, then it goes down to that same level (aka Double Bottom). THEN, it heads up. If you put a vertical line through the top point of that little bump up, it's like a mirror image. What's the next thing that would happen if it were to keep mirroring?
It would go up big.
So "they" are using chart talk BS to try to claim that this chart is not bullish. It IS bullish but they are going to continue trying to whack it so they can make it genuinely not bullish.
Not that the chart is more important than fundamentals -- it is NOT -- but they are still trying to talk the stock down (and probably, if they're smart, cover their short position).
Not investment advice: but if I didn't already have 2 tons of this stock, I would use this opportunity to keep building my position.
Much as I hate sending traffic "there," here is the link to Citrati's post. He has some very good technical explanation in this post.
http://stockcharts.com/h-sc/ui?s=CTIX&p=D...6682219370
See the "mirror symmetry"? The stock goes down, then it bumps up again a little bit, then it goes down to that same level (aka Double Bottom). THEN, it heads up. If you put a vertical line through the top point of that little bump up, it's like a mirror image. What's the next thing that would happen if it were to keep mirroring?
It would go up big.
So "they" are using chart talk BS to try to claim that this chart is not bullish. It IS bullish but they are going to continue trying to whack it so they can make it genuinely not bullish.
Not that the chart is more important than fundamentals -- it is NOT -- but they are still trying to talk the stock down (and probably, if they're smart, cover their short position).
Not investment advice: but if I didn't already have 2 tons of this stock, I would use this opportunity to keep building my position.
Much as I hate sending traffic "there," here is the link to Citrati's post. He has some very good technical explanation in this post.
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