For the serious investor there is very little use of Technical Analysis.

The only useful application for technical indicators is to indicate that the market has fallen in the near past. That stock with a solid business plan is an even better buy opportunity than what it was six months ago. Buying on dips can give an extra bonus.

You can do without Technical Analysis, it is possible to use your eyes on the price chart to see that the stock has fallen the last 6 months.

What Technical Analysis promises, but can not deliver:

1. Try to catch bottoms, try to catch tops, try to catch trends.
2. Doing great investments without using your financial brain, technical analysis focuses for the most on price and volume, not the actual business that lays behind the price. The long term success or failure of the business is what will determine the long term stock price.