TA Websites - Lagging Indicators
I have visited many websites offering their technical analysis, ever since the internet has had them. If there is just one thing in them that I like, I will use it for just that one thing over and over. But what you are really only actually seeing are "Lagging Indicators".
By the time something is an overbought 'Buy' on these questionably "helpful" websites, it is always the time to start considering the 'Sell' side. And by the time something is an oversold 'Sell', it is always time to consider the 'Buy' side. That tactic, combined with much deeper research and analysis, has ALWAYS held true ... for YEARS.
I would go as far as to call it an absolute FACT. And this coincides with many websites offering the same type of "programmed" analysis. It's good, but it's all in how you interpret and use it. For years and years the consistent trends of these websites have worked, but only if you have learned how to interpret that Lagging Data and the timing of that data correctly.
For example, maybe you remember when a stock was a screaming sell. Well, and maybe you had wished you would have bought it then. And now maybe it's screaming a buy... and now it's time to consider the sell side.
And what you really have to watch out for, is when these websites are being used as propaganda to support opinions. Especially when the conditions are stale, and then ready to flip.
It's also interesting that some of these websites have been around for a very long time, but have never really improved themselves. Also, a BIG thing is, that "IF" these ratings from these websites are so accurate, as taking them for their face value, then why do most investors (usually beginning) typically lose money when following their rating suggestions? And why is it that everyone isn't a millionaire instead? It is because they are "Lagging Indicators". It only tells you what has happened, but not what will happen.
Something To Think About
