I agree chart formations can hold precedence over everything
I actually see charting as a good cheat sheet, Knowing things about a stock before anyone else.
With all there is to learn about charting from the patterns & formations,indicators & overlays,Supports & resistance etc many people don't even bother to learn it.
Buy by the chart & nothing else.
Wheather the company is legit or not If the chart aligns you can still make money on it.
Remember knowledge is power!