Technical Analysis Is Fundamentally Flawed, from Marty Fridson
Shortly before Gowex confessed to financial reporting fraud and went bankrupt, a leading technical analysis firm said the stock could rise by 29%. A fundamental research shop, in contrast, set a target price of zero. Some chartists don't think their field is discredited by practitioners who rely on astrology.
"Technical Analysis is Fundamentally Flawed" [My article in Forbes].