I'm not a technical expert, bu

2023-11-24

I'm not a technical expert, but you can definitely use more than price and volume.

A descending channel is just a chart showing that money is flowing out of a stock. The price keeps dropping and every bonce gets sold, quicker than the previous bounce as people try to beat the rush.

An ascending channel is the opposite.

Yes, I agree if you buy a solid company and hold it for 10 years, you'll probably make money regardless of entry points. However, good technical analysis can help to get better entry points. How many people on this sub cry about a stock they buy that just keeps going down? That's largely available by waiting for the chart to reverse before entering. Everyone forgets META $Meta Platforms, Inc.(META)$ had a nice long consolidation between $90-100 before it took off. The chart reversed slowly before it took off. Classic technical entry point.

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