RE:Penny stocks predictions and charts.No one is saying only go by charts, it's only part of the overall trading strategy. And it's in everyone's own interests to understand how others play the market, as they can affect your money.
If anything, penny stocks with their volatitly play by technicals more often than not, usually because fundamentals don't exist yet. Just like how this sector started out, and how many still are. Only a tiny handful trade on the TSX, many more on the manipulated CSE. So regardless of the company, you always have market maker manipulation especially on the CSE and TSXV .
Of course in a bullish sector with constant news and catalysts it's probably better just to enter a long position on a red day and hold for a while, but there's still lots of money making opportunities to be had with volatility if you know how to play it right. Also, entering at a top can be disastrous to a new investor. Basic support and resistance are crucial technicals derived from charts, and only an idiot wouldn't want to further their knowledge of how to protect, and grow their hard earned money.
Of course stocks are still a gamble, but at least you can work towards trying to get an edge over others. Still better than the casino
Ron101020 wrote:
How can anyone make predictions of tomorrow's share price using charts etc? Who knows what news will or can be released tomorrow. Come on let's be realistic.