Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

For the most part, technical analysis is a joke, especially for otc junk stocks like Elite

It requires some fantastical thinking to believe past prices predict future prices. In this way, technical analysis is akin to voo doo. The only reason chart analysis has any predictive ability at all is because day traders think it does and because trader behavior is entirely predictable. Even that breaks down beyond a few hours or a few days at the most, and it rarely applies to low liquidity stocks on the OTC. Serious investors ignore the chart and buy companies based on fundamentals. Likewise, anyone with an investment timeline beyond 24 hours should be focused on the company and their market, not the chart.