Talk about Wallbridge Mining Charts and T/A
I had to take note of the recent selling, the price held up very well for such a strong sell cycle.
WM.TO Still looking good. Strong accumulation on the profile vs distribution, chart action shows MACD weaknening with very little price decline.
In brief, what is the point and figure chart telling you?
A friend uses them for trading, I never got the hang of what the charts were telling (he told me some stuff about how to use them, but I couldn’t translate that into what it was really indicating relative to market dynamics/psychology, etc)
Is that chart saying still looking like room to move up some? Or is it ready for correction?
This is merely a weekly on the P&F in relation to possible breakouts on the weekly. This does indicate relative support in the long term. Daily works well with a caveat that one should take profits Before the target is reached. BTW the daily is suggesting .57 cents.
Primarily use this as a tool for target entries and exits. Manipulated stocks change frequently providing noise or suggesting volatility which confuses the outcome.
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