Hey Occam
Many good points noted but i dont agree with your statement that charts are worthless. Like any other tools used for fundamental analysis - P/L, Cashflow, P/E etc, so too does technical analysis have a place.
Chartists and investors alike can only base their analysis/decisions on current information. Chartists simply evaluate the price movement and price trends - either short, medium or long term using an array of indicators that have proven time and time again to work. If anything, charts reflect the pyschology that is trading. If you dont agree with me then why do charts have a history or repeating themselves?
I must state though that charts wont guarantee you a 100% success rate, but it does help with making an informed analysis on where the share price is expected to go.
I try and use both fundamental and technical analysis. If you think that fundamentally a stock is worth more than what it is now, then why would you by at a price where if technical analysis is used you could buy at a lower price?
Also, technical analysis is handy if you expect to constantly buy and sell.
I would appreciate your feedback on this.
Cheers
PK
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