It depends on who is reading said charts. Charts are about what the people are doing with the stock not what the stock is doing. So if you are reading people, the charts are always relevant, if you are trying to read the stock, charts are never relevant.
Its just like playing poker, any joker can when when they flop a boat but it takes skill to take down the pot with a 2, 10 off-suit.
Individuals are smart but never underestimate the power of stupid people in large groups.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.