Technical Analysis is a method of analyzing securities to make investment decisions based on historic market data and trends. Technical Analysts rely heavily on chart patterns and trend analysis such as the following:
Head-and-Shoulders – Reversal indicator; Head-and-shoulders bottom is a bullish indicator indicating a reversal of a downtrend & vice versa
200-Day Moving Average – used in technical analysis to spot trends
Consolidation – Stock trading in a narrow price range, where sophisticated investors are getting into or out of the stock
Technical Analysis is the opposite of Fundamental Analysis.
My Take
Both Technical and Fundamental Analysis should be should be used when analyzing a given stock.