I think you are correct that technical analysis often fails to...

I think you are correct that technical analysis often fails to give correct entry signals such as break-outs. I think this is because share-price movements in micro-cap stocks are dependent on the flow of price-sensitive information, not any intrinsic fault with TA.
Investors may need confirmatory evidence to buy stock, in the face of profit-taking from the traders.

TA is still helpful in giving clues as to how the market is responding. TA does not really predict. It is a tool of assessment, to assist in planning. Companies often put a positive spin on what is happening that markets may find unrealistic.

Thanks for your valid comment.