Wrong... a chart measures more then just chartist...
While a chart definitely won't tell you 'why/who', it does tell you 'what/where'...
Example... if you see a price hit $45 (or prices right around that area) numerous times, that is telling you someone is buying there... a chart won't tell you whether it is a hedge fund, management, Warren Buffet, etc., nor will it tell you 'why'' they're buying, but it tells you the most important thing, 'where' they are buying and at 'what' price...