Charts are a very useful tool and should not be ignored, but you must keep in mind that markets are manipulated and so too charts. From a long term perspective, fundamentals are always far more important and are not subject to manipulation. I have seen plenty of charts break support or resistance, only to reverse and move rapidly in the other direction. It's a common practice these days to manipulte charts. I always ignore a break over a short period of time if the fundamentals are telling me a different story. I reassess if the chart action continues in the direction of the break.
SLR Price at posting:
$3.21 Sentiment: Buy Disclosure: Held