I have always said that charts cause reactive trading to events that have already happened and are not really forward looking unless perhaps you only chart long term indicators. Even then I don’t follow those, I look at potential earnings and revenue growth, product pipelines, profit margins, current and potential customer base, etc. For long term investors I think these are much more important than any charts. Charts are for short term investors and flippers. Any short term chart won’t even predict a material announcement that could blow away any short term downward trading pattern. Some people make money flipping, I am sure a lot lose money that way too. I had a good laugh about your comment about those holding up signs at dealerships until they are run off the lot!
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