Check out this headline:
“Apple could plunge 13 percent more before hitting a floor, says technical analyst.”
Studies have shown there’s no evidence there are any indicators that can reliably predict future stock returns.
That includes technical analysis.
Burton Malkiel, the author of A Random Walk Down Wall Street, described technical analysis as “an anathema to the academic world.”
According to respected financial author Larry Swedore, quoting Martin Fridson, “The only thing we know for certain about technical analysis is that it’s possible to make a living publishing a newsletter on the subject.”
Here’s a better idea.
Buy and hold a diversified portfolio of low management fee index funds, with an allocation between stocks and bonds suitable for your tolerance for risk.
There’s plenty of academic evidence supporting that strategy.