RE:Charts cannot predict Drilling Results Charts have been predicting that drill results do nothing for price since August 2014.
quakes99 wrote: Many seem to have forgotten that charts have no predictive abilities for drill results or any other catalysts that can come into play. We are awaiting results on 38+ drill holes at PLS that could be barn-burners at shallow depth... or could be misses that disappoint. No one, not the geologists, drillers, nobody knows what those cores are going to look like and what the Scintillometer readings may be when that wand is waved over the rock samples.
And neither can charts predict what a revised Resource Estimate will show once 2 and 1/2 seasons of drilling have been added. R600W is still not included in either the Resource Estimate or PEA. There is absolute certainty that both the Size and the Economic Analysis attached to PLS is going to improve once those reports have been revised to include another 100 holes or more. The Resource Size will Increase... and the NPV will rise with it. NO question at all.
The vast majority of investors aren't looking at any of those issues.. they simply look at the U spot price, read the Globe & Mail, and are waiting for the commodity rout on the TSX to come to an end and U prices starting to rise before entering the U sector. The nuclear story has been taking off, with major expansions announced and underway... but the Uranium market has not yet responded. When it does, all hell will break loose, imho.
Charts aren't crystall balls with magic powers in the Uranium Exploration sector. There are far too many other influences on share price that can come into play. Charts work well when volumes are low and only traders are setting up the daily trading ranges... but you can throw them out when the volume spikes and there isn't one of us who can say when that might happen and what that catalyst might be.
Good luck with your trades!