I am struggling at times with the bias on this thread and to be honest the vitriol - a successful chartist is always subjective, that allows them to trade and invest without emotion and bias.
I do not require feedback on my posts because most of the silly respondents have been ignored - but on that level I will comment on Elliott wave analysis, in a nutshell it's absolutely terrific to plot wave patterns
after they have evolved, most users of this technique wait till at least wave 3 has formed and then say "look at this".
Elliott waves are an excellent study in pattern analysis and no more - most users are under the impression they have some sort of predictive power. Trouble is, like a lot of patterns they are completed before the "expert" wakes up to the fact they were there all along.
Anyway, instead of looking at the past, I think chartwise MNS is at an interesting point - the long term downtrend, which most negative posters liked to quote (and still do) finished in about May and as I commented previously there was a period of trading which was undecided and what I like to call "wandering" - nobody is really interested in this share during that period. Sometimes the Insto's jump in and gather some but it's haphazard.
Now, at present, (and isn't that where we look, the present, not the past ?) I have MNS on my charts at another crossroads, but with a little difference, it's a little more bullish this time and well worth keeping an eye on with that relatively later trendline commencing in about March in mind.
(20min delay)
