Buffett once remarked, "I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer."
To make a case for Buffett. I have never seen or heard of any hedge funds and/or fund managers using TA to trade.
I have also not seen many fund managers/analysts on Bloomberg basing their trade recommendations and/or analysis on TA.
Wall St, where big money is, almost fully uses FA. With the occasional TA used to support the fundamental ideas, and daily execution.
Anecdotally, we see almost fully TA on retail trading forums. If TA was really profitable, shouldn't we see lots of exclusive TA hedge funds and fund managers?
LKE chart, page-18
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Last
4.0¢ |
Change
-0.003(6.98%) |
Mkt cap ! $66.52M | |||
| Open | High | Low | Value | Volume |
| 4.2¢ | 4.3¢ | 3.9¢ | $753.4K | 18.59M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 731925 | 4.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.1¢ | 760271 | 12 |
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| LKE (ASX) Chart |