So a sudden influx of volume over the course of a few weeks tells us absolutely nothing? Or how about when a stock breaks out of a 3 year resistance level and then rockets in price over the next month?
That is usually because the market is aware of that key price level. It’s not a magical coincidence. If so many people in the market are looking at the same reference points, it must have some impact, no?
Plenty of fundamentalists use moving averages as a rough guide to how the market is performing.
I’m not saying be elitist - I’m saying a balanced approach can only be a good thing.