FWIW, I have done a couple of long term back testing on trying to catch all the patterns vs buying and holding long term. And if the stock has a long term positive outlook, it was about the same profit margin. However on buying and selling, you had to catch every pattern just right.
So unless a stock gets squeezed 200-300% in one day, it is better to be in it than on the sidelines trying to catch the exact bottom. XXII was a recent example of a long term uptrend.
Obviously that is not recommended for ETF's. LOL Don't ask. LOL