/biz/ - Business & Finance

>>23017693
The fact is, things like corona do not actually change anything. It means that we'll be in a more pessimistic scenario than normal (e.g. if trump dies tomorrow, maybe we will pull back all the way to $2, only rise back to $6.6, and then fart to death), but it does not change anything about the memelines. For example, do you really think it's a coincidence that the memelines were respected, and the rejection happened exactly where you would expect? Surely nobody could have known trump would get sick so as to make GME dump, right?
That's not actually how it works. The stock would have normally consolidated around 8.7 or so. Now, it may bounce and dive down due to market turning bearish. That's the only difference to the schedule: if the market suddenly turns bullish, it will bounce there. If not, it will dive. That's it.

No TA that was performed before corona hit was invalidated. Here's a quick SPY just for one example. You will NEVER guess what the 138.2% level is! I repeat what I said before: trading is reactive, TA is used to identify what scenario you're in.
TA can never tell you "this is going up". It tells you, "if this happens, it will go up and if not, it will go down ON THIS TIMEFRAME" and it can tell you "60% of the time, this will go up" (that is with patterns as opposed to resistance and support).