Im of the view charts are good indicators, but shouldnt be used in isolation, especially for small caps. TA tells the past and present story of FA, but can only guide you through the future FA.
Company has good announcement? have a look at resistence as it shows where buyers become wary etc. Also can show general trend, chart going up? why? and is there more FA that can continue trend.
There is also a lot of behavioural economics behind charts, but that is mostly in large caps, commodities, forex etc where traders are most active.
