On 12 November 2012 when AGL was at R25500 I posted as follows: "Don't want to be a scaremonger, but that famous 3 year H and S which started in 2009 is still intact. The neckline was breached in may 2012,the price has come back to retest it about 4 times and it has failed to stay above it on all these occasions. Downside target still about 14000!How about that low on 2nd March 2009?" Now 28 months later agl has just broken down from a head and shoulders which formed between 14 Jan 2015 and 31 mar 2015. The target from this breakdown? About R14400! Graeme Korner and the other fundamentalists should abandon all their speculations,guesses and theories about the fundamentals, closures of operations and corporate action and just study the charts!
Possibly, although for trading I think the charts are more useful for deciding when to buy and when to sell.Long term he might eventually be right, like all the others who have been punting agl the last few months as it keeps sliding further.