I don't understand your distinction between TA having validity for a 'globally significant stock' and others - though I would argue that for extreme penny stocks TA is generally not used due to their inherent volatility (among other things).
All stocks move on news and outlook -- TA - at least insofar as chart patterns and volume/price indicators - is reflective of that. I don't personally use Fibonacci because I agree that it looks like numerology - but I haven't looked into a great deal so am perhaps wrong. However, I think there is strong utility in volume/price indicators, patterns (price movements), and support/resistance levels which are readily interpretable in terms of investor psychology and are indicative of outlook etc.
But to each their own ..
Van Eck - ETF Buying Opportunity, page-29
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$2.32 |
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Mkt cap ! $2.679B | |||
| Open | High | Low | Value | Volume |
| $2.33 | $2.35 | $2.31 | $5.190M | 2.236M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 89007 | $2.31 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.33 | 21424 | 1 |
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