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TA is not about predicting price movements. TA always presents two possible scenarios. To most people, this immediately means it's as good as not saying anything. Well, if we had a tool that could tell us if a security was definitely moving up or down, ..............; you fill in the blanks.
Then, why do we still have TA? Well, knowing the trends, supports and resistance levels could help us make certain decisions when certain numbers are hit. Is that it? I am probably not doing the subject justice but for my purpose, in a nutshell, yes.
OK, on to what you are waiting for. What do I see in STI's charts?
On the daily chart, we see that the MFI is clearly downtrending with lower highs and lower lows. The stochastics is turning down from the boundary of the overbought region. These are momentum oscillators and their current patterns indicate weakening buying momentum in the near term. Read more...[caption id="attachment_4484" align="alignright" width="150" caption="STI Chart from AK71 Blog"]
[/caption]
TA is not about predicting price movements. TA always presents two possible scenarios. To most people, this immediately means it's as good as not saying anything. Well, if we had a tool that could tell us if a security was definitely moving up or down, ..............; you fill in the blanks.
Then, why do we still have TA? Well, knowing the trends, supports and resistance levels could help us make certain decisions when certain numbers are hit. Is that it? I am probably not doing the subject justice but for my purpose, in a nutshell, yes.
OK, on to what you are waiting for. What do I see in STI's charts?
On the daily chart, we see that the MFI is clearly downtrending with lower highs and lower lows. The stochastics is turning down from the boundary of the overbought region. These are momentum oscillators and their current patterns indicate weakening buying momentum in the near term. Read more...
[/caption]
TA is not about predicting price movements. TA always presents two possible scenarios. To most people, this immediately means it's as good as not saying anything. Well, if we had a tool that could tell us if a security was definitely moving up or down, ..............; you fill in the blanks.
Then, why do we still have TA? Well, knowing the trends, supports and resistance levels could help us make certain decisions when certain numbers are hit. Is that it? I am probably not doing the subject justice but for my purpose, in a nutshell, yes.
OK, on to what you are waiting for. What do I see in STI's charts?
On the daily chart, we see that the MFI is clearly downtrending with lower highs and lower lows. The stochastics is turning down from the boundary of the overbought region. These are momentum oscillators and their current patterns indicate weakening buying momentum in the near term. Read more...
