Fibertower Corp fka FBBT

[pennytradingnet]

Technical analysis is its highly subjective nature. Practitioners tend to define and use it according to their own beliefs. Different technical analysts can make contradictory predictions from the same data. The presence of certain shapes in historical price charts is often in the eye of the beholder. Coupled with that, the range of indicators is almost limitless and methods vary greatly.

This makes it difficult to refute technical analysis because once one indicator has been shown not to be predictive, it's always possible for the technician to argue that, in current market circumstances, you should be looking at an entirely different indicator.