RE:Charts and patternsitwillbeokaynowok,
GREAT POST! I was actually thinking the same thing.....Using charts to determine your future is VERY dangerous if the company doesn't have a long, predictable revenue and earnings history!
I appreciate all of the information that charts SUGGEST, but it is nothing more than a person with a nicer car than you talking about soemthing you might not know about..... You should see it as a point of research, not a directive!
Oh well, to each their own! The chart i pay attention to is what Pyrogenesis does next, and what direction the company is moving, how much cash they are making, and how much cash they are poised to be making in the future....SO MUCH SIMPLER, AND SUCH A GREAT SUCCESS RATE of doing it this way!
Cheers!
itwillbeoknowok wrote: Companies listed on the venture are developing products that they hope to market. A lot of their work is in research and developement. No sales record to attact investors, just a product that can change the market place.
I do not think anyone can rely on any chart patterns on how the stock will react. How these penny stocks react is off of news on their developing product getting close to hitting the market.
These self proclaimed chart wizards have no clue on penny stocks. Stocks on the senior markets have sales records and production history so they develope a pattern that one can look at to time investments.
These chart wizards for penny stocks are looking at ink blotches and describing what they see. PYR goes up as they develope products and now they are getting ready to sell these products the price goes up. Once the announcements of contracts being signed to sell their products and mass production is filling these orders then boom the price goes up.
Right now we are all waiting everything is in place just need commitments from customers then mass production and sales. Then in a few years one can look at their chart and make assumptions. But right now just buy a newspaper to check your horoscope.