Biggest issue I’ve seen with technical analysis like this is that it’s more a measure of market sentiment, not fundamentals. You’re using the crowd as an indicator without any idea of whether the crowd knows anything you don’t or not.
So it’s a little more meaningful than dowsing rods and tarot cards, but only barely. Market sentiment can change on a whim.
Basically it is a “technical analysis” thing. Which basically means divination based on the “shapes the stonk line make”.
Death cross scary shape when stonk line cross other line you draw
Biggest issue I’ve seen with technical analysis like this is that it’s more a measure of market sentiment, not fundamentals. You’re using the crowd as an indicator without any idea of whether the crowd knows anything you don’t or not.
So it’s a little more meaningful than dowsing rods and tarot cards, but only barely. Market sentiment can change on a whim.