it works esp for day trades otherwise i wouldnt have profited on each transaction during the day when i traded NEOM. there was only one time this week where i lost money on a trade. i have good chunk of shares actually, not a majority holder but still pretty large that i am "investing" taking a chance on the long term outlook of this company.
longer term projections using strictly TA however, underlying factors and changes have enough time to slowly affect it to a greater extent IMO. i like to view it as weather forecast as an example. works well for big board stocks but i agree that penny land can be much more volatile. significant dilution and r/s for example..
one technique would be to stick to pennies that have high volume, patterns hold well for those. another is to take the fundamentals into account as well. using TA does give reasonably good entry points and exit points. neither fundamentals nor TA are a guarantee but they both help increase the odds of a successful long term investment.
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