PHATRA : Too erratic for our liking
March 7, 2011 Leave a comment
Most technical analysts would run a mile from a chart like this one below of PHATRA. It’s far too erratic to be trustable, and in such cases the text book response is never to trade it, and indeed delete it from ones watch list.
A wild guess…. Might just spike to 31 this week from the current 29, with a theoretical punt from current prices not for us, but for braver souls.
The reason some stocks have ugly charts is usually due to market makers. Evil ones….. the smart ass type who like eating retail investors for breakfast…lunch and dinner