Now that is where you are wrong. Usually charts can predict news, REAL news. In a way you are right, news does drive PPS, but it's fact that charts can predict the future (with exceptions of course).
If it's news like a merger or earnings or contracts or things known in advance by insiders, often that is reflected by a gradual increase in volume and PPS going into the news (before it's released to the public). If the company is very good at maintaining ethics and not leaking the news then it may, or may not, be reflected in the charts before the news is released to the public.
Believe me, if insiders (especially in penny stocks) know something big, you will see buying before they release that information to the general public.
There are exceptions to every rule and many times there is news that surprises everyone. So yes, sometimes the charts can be wrong, but they are right a heck of a lot more often than they are wrong and they are very useful and should be a part of every trading decision.
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