Technical Charting is like Evolution.
People choose to not believe in it because they don't understand it, but is still factual and exists regardless of whether someone chooses to believe in it or not.
Fundamentals influence direction and sentiment, the technical still play a key role even during pumps/dumps.
Your example of IPD doesn't refute TA, it confirms it.
Draw a fib from $1.067 high to the $0.27 low and it runs to the 38.2%, then that move pulls back 61.8% which is also retesting the down trend.
It's perhaps one of the best examples of technical charting working at it's best.
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And RAP's technicals are looking fantastic on the daily chart:
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Particularly when it first broke out on the daily chart of the huge yellow trend line which coincided with the blue down-trend channel (circled in green).
Now we're seeing an ascending trend channel, and judging by the volumes it should come back down to hit the 38.2% to form a cup and handle formation to retest the high and potentially break to the upside based on current sentiment and expectation of good news from USA studies.
Believe in TA or not, it objectively exists and every pattern has a statistical probability attached to it.
Technical Charting is like Evolution. People choose to not...
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