I can understand why people misunderstand what technical analysis is when they are confronted by immensely confusion gibberish such as shown below.
This is a snip from the normally informative site Barchart.com – consider the breakout box on the right-hand side which is titled Barchart Technical Opinion. I have two questions – what is a weak buy and how on earth do you quantify something as being an 8% weak buy. Surely the logical extension of this is that it is 92% not a buy.
Is it any wonder that TA confuses people.
Is it just me or is that price action going sideways?
It’s a weak recommendation
92% not a buy. LOL