How Successful Traders Use Technical Analysis

Interested in learning the thoughts of a Financial Advisor and Co-Portfolio Manager on technical analysis? In this week's episode, Josh and Austin discuss how successful traders use technical analysis techniques in their portfolio strategy. The guys walk you through the advantages and disadvantages, as well as share their opinions on whether you should or shouldn't add it to your trading toolkit.

For the full transcript, show notes, and resources, visit theinvesteddads.com/195

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Transcript

Welcome to The Invested Dads Podcast, simplifying financial topics so that you can take action and make your financial situation better. Helping you to understand the current world of financial planning and investments, here are your hosts, Josh Robb and Austin Wilson.

Austin Wilson:

All right. Hey, hey. Welcome back to The Invested Dads Podcast, a podcast where we take you on a journey to better your financial future. I am Austin Wilson, Co-Portfolio Manager at Hixon Zuercher Capital Management.

Josh Robb:

And I'm Josh Robb, Director of Wealth Management at Hixon Zuercher Capital Management. Austin, how can people help us with our podcast?

Austin Wilson:

We would love it if you would subscribe if you're not subscribed. That way you get new episodes when they drop. And go ahead and leave us a review on Apple Podcast, Spotify, or wherever you are listening to our episode. So today we are going to be discussing a very popular topic, and that topic is technical analysis.

Josh Robb:

Okay.

[0:51] - What is Technical Analysis?

Austin Wilson:

We're going to talk what it is, who it's for, and five pros and cons of this way of thinking. Then we're going to wrap it up with our personal opinions. So what is technical analysis, Josh, you might ask.

Josh Robb:

I will ask that question Austin.

Austin Wilson:

You should. Technical analysis, it's really all about trading discipline, and it's a way that you can evaluate investments to identify opportunities, to look at statistical trends gathered from trading activity like price movement, like volume. This differs from what we would call fundamental analysis where you're actually looking at company earnings, company revenue, statistics about performance in terms of the business versus their price movement. Two different ways to look at things, both very popular, both widely used, so there's some differences there. So Josh, the next question you might ask me,

Josh Robb:

Yep.

[1:41] - Who is Technical Analysis For?

Austin Wilson:

Who is technical analysis for? Now, it's actually become popular, really coming out of 2020, everyone was home, had a bunch of cash. Day trading became very popular, all this stuff. Technical analysis became pretty popular for day traders, for people at home, but it's been used for many years in terms of professional traders, brokers and people trying to run money and manage investments for themselves or for huge funds and businesses and stuff like that.

But I would say it's most effectively used by professional analysts who use this in conjunction with other things like fundamental research. One way to think about technical analysis is identify a solid investment with something like fundamental research. It's trading at a great price based on what you get in terms of earnings or revenue. It's growing at X, Y, Z growth rate in terms of what they're selling and all this. But then maybe you want to find a good opportunity to buy it. That might be where you use technical analysis for. So professionals often marry the two and put them together. So that's the way that I see it most often done. Retail traders, day traders who don't do this for a living,

Josh Robb:

Right.

Austin Wilson:

They would typically be looking at one or the other. And oftentimes if you're just day trading, you're probably looking at charts. You're not looking at most fundamentals as much.

Josh Robb:

Right. I always kind of think of it, fundamental analysis, fundamental trading is looking at the who and what, who is the company and what do they do? So balance sheets, income statements, cashflow, all that stuff. Technical is the why. Why are they priced at this point, why is it moving this direction, and trading off of that, is kind of how I've always broke it down. Real simple. So it's more on the what's going on now, not so much as what did they make?

Austin Wilson:

Right.

Josh Robb:

Right. You could have a company that makes anything and a technical trader says, I don't really care about that.

Austin Wilson:

Right.

Josh Robb:

I'm looking at trend, I'm looking at movement, I'm looking at different metrics that I feel is valuable and seeing where they're at.

Austin Wilson:

Absolutely.

Josh Robb:

Okay.

[3:39] - Five Pros of Technical Analysis

Austin Wilson:

So let's dig into five pros.

Josh Robb:

Okay.

Austin Wilson:

And five cons of using technical analysis. Let's start with the pros. For number one technical analysis is about visual representation. So obviously it kind of goes without saying, but technical analysis is using charts.

Josh Robb:

Yes.

Austin Wilson:

You're using charts. And those charts typically are tracking price movements, volume, which is how many shares of a given company or next are trading at a given point in time and using patterns on charts to visually identify how a stock is trading that allow people to look into forming trends, forming patterns, forming what are called support or resistance levels. If a stock is going up, up, up and it runs into a level that it just can't seem to get over, maybe it's a hypothetical dollar amount, it just can't get over $200, or if it's a point, if you draw a line back on a chart where it's had trouble getting over before, some of these are resistance levels or support levels where a stocks going down, it's unlikely to go further down than X level because that's where it stopped last time.

It's sort of thinking like this as well as using some of these to identify, hey, that means once it gets to this level, that's going to be a support, which means it's going to be a breakout. And this stock could have room to run from here. Technical analysis users see these things as ways to use historical evidence, which we're going to talk about in a second to determine hopefully where things are going to go in the future.

Josh Robb:

And I don't know if you had a list of all the fun terms that you were going to highlight, but they have names for just about any kind of chart movement you've seen. This one is a flag shape or this one is,

Austin Wilson:

Cup and handle.

Josh Robb:

Yeah, cup and handle or shoulders or all those different things because they try to look for trends, historical and say, Hey, this has happened. Maybe never did the same company, but in the past to other ones, and here's happened after that. So they're always looking for trends or repeats.

Austin Wilson:

Speaking of looking backward,

Josh Robb:

Yep.

Austin Wilson:

Because a lot of this is, again, forming information on what you think will happen next based on what has happened in the past. It's all kind of base number two on historical data. So you're looking at historical price data, historical volume data. You're trying to use that data to determine recurring patterns and trends. And like you said, this could be looking at the market as a whole and when the market as a whole does X, Y, Z, this is typically what happens next or individual companies, that's definitely ways you can do that. And then determining how that past price behavior is going to indicate potential price movement. So once X, Y, Z company has formed this certain pattern or reached this support or resistance level, here is what has happened next. Again, it's never a guarantee this is going to happen, and I'm going to preface this a million times because neither side of this discussion about research from fundamental or a technical perspective is 100% accurate.

Josh Robb:

Yep. If there was there wouldn't be any speculation.

Austin Wilson:

And especially in the short term,

Josh Robb:

Yes.

Austin Wilson:

It can give you false signals, both of them. But over broad pieces of data, long timeframes, a lot of these things start to make sense. So yeah, historical data utilization is a key aspect of technical analysis. Number three is that technical analysis utilizes market sentiment. So this is a good way to understand how traders, how the big banks and mutual funds and all this are feeling about A, the market as a whole or a big index, or B, an individual company. So you can understand based on using things like relative strength index, which would be like how a company or one index trades relative to the broader market or a different index.

Josh Robb:

Yep.

Austin Wilson:

So if it's outperforming it, you can see relative strength increasing or underperforming relative strength could be decreasing. This often can help you have some indication of what could happen next because theoretically things usually don't go the same direction forever.

Josh Robb:

Yes.

Austin Wilson:

So if one thing is outperforming during a certain period, the strength may be on its side, but a lot of times those will reverse and have a different phase where something else will outperform for a while. So that happens there. Another thing that's used in terms of market sentiment is smoothing things out a little bit because if you look at a stock chart on a given minute, on a given day, on a given week, month, they seem very choppy, right?

Josh Robb:

Yeah. It looks like a heartbeat thing, up and down, up and down, up, down.

Austin Wilson:

Yeah, exactly. But if you smooth things out and use what's called a moving average, that often can form some better indications of different ways that things can go. So,

Josh Robb:

It smooths out the noise.

Austin Wilson:

Yeah, so a couple examples are you can use some shorter term moving averages. So a lot of people use maybe like a 10 or a 20 day, so it'd be a trailing 20-day average. So that line will be a lot smoother because that's an average of the prior 20.

Josh Robb:

Yep.

Austin Wilson:

The longer term ones that a lot of people use are 50 and 200 days. So there are certain indicators that go when X, Y, Z moving average crosses the other one in a X, Y, Z direction, that's usually a time that could be a buy or when the price touches the 50-day moving average, that could be support. A lot of people view things like that. So that's how moving averages can determine market sentiment because a lot of times, and it works out very, very well, when a company's price moves up or down and touches one of those moving averages, there's going to be some either support or resistance depending on which way you're going, and it can definitely send a sort of pattern what could happen next there.

Josh Robb:

All right. And again, fun names for those. They have the golden cross and the death cross.

Austin Wilson:

Golden cross, death cross.

Josh Robb:

When you're crossing through some of these moving averages they have historically indicated certain things, like you said, good or bad for that company or the index, whatever you're looking for.

Austin Wilson:

And another term that's used in this sort of situation is what's called a MACD, M-A-C-D, and that's where those moving averages converge the C or diverge the D. Moving averages, convergence, divergence is how that works. And those can have different indications on which way things could move going forward there. Trainers often utilize these sort of tools to understand how overbought and really for not a lot of other reason other than sentiment was very good. People wanted it very bad.

Josh Robb:

Yeah, momentum took over.

Austin Wilson:

That does not last forever.

Josh Robb:

Nope.

Austin Wilson:

And they can use some of these averages to look and say, Hey, this determines that this is probably a little overdone and maybe due for some sort of pause or pullback or the other way around. It's just been sold, sold, sold. Sellers are exhausted, there's no one else who wants to sell it that's out there. And these averages can tell you, oh, well that's a good time maybe to get back in or to get in from there. Number four,

Josh Robb:

Yes.

Austin Wilson:

You can use technical analysis to help determine, it's not perfect always, help determine entry and exit points. And a lot of those could use the indicators we've talked about before. So you may get an entry point when the MACD is a buy signal and you get the convergence on the two different moving average you're looking for. That's one way to do that. I will say that technical analysis often will miss the very bottom and the very top of most indicators, but you should theoretically, if it works out, which it sometimes does, it's not 100%, but you should be able to capture the major chunk of the trend in an upward or a downward direction, which is,

Josh Robb:

Because it is looking at a trend. So,

Austin Wilson:

It's looking at a trend.

Josh Robb:

Something has to start before a trend shows.

Austin Wilson:

Exactly.

Josh Robb:

So you're right.

Austin Wilson:

So you might miss,

Josh Robb:

You're going to miss both ends.

Austin Wilson:

The perfect buy or the perfect sell, but you're going to capture the majority in the middle, which is what people really would like to do anyway most.

Josh Robb:

Yeah, because sometimes the market acts on its own, like you said, it's not a perfect indicator in any way, but you're right, that's a good way of, again, momentum and trend in the market matters. If there's positive sentiment towards a company that tends to continue until something disrupts that.

Austin Wilson:

Absolutely. And so yeah, it's a good way of using it. A lot of times traders often also use technical analysis to set things like what's called a stop-loss order. So if you're looking at just the overall market, you could say, oh man, if the market drops down below this level, which was a prior low, that could be some support. If it drops below that, well then the fork could fall out. Right. I don't want to be in. That could trigger an order to get bearish to sell, and then theoretically that just causes the market to continue to go down, but that actually could avoid some more losses from there. So market stop-loss orders are a huge component of technical analysis. They also do that with individual companies,

Josh Robb:

Yep.

Austin Wilson:

Based on support and resistance.

Josh Robb:

Yep.

Austin Wilson:

So,

Josh Robb:

You could say, Hey, company A, it's priced at $100. I know historically anytime it's hit the $90 mark, it's had a lot more volatility that follows.

Austin Wilson:

Yep.

Josh Robb:

So I'm going to put a stop loss at 90 so that if a cross below there, I'm out, I'll avoid it. And I even may put a buy on the other end that says, if you get back to 92 or something, then I'll buy back in.

Austin Wilson:

Yeah. And that's what a lot of,

Josh Robb:

You use those trends for it.

Austin Wilson:

Yep. And fifth pro is a technical analysis, is often viewed complimentary tool. The best people in the world who use this don't use it by itself.

Josh Robb:

Yep.

Austin Wilson:

Right. They use it to compliment fundamental analysis where they actually know the company, they know all the financial statements and all the company news. They understand the valuation, they understand all of these things, management and what the company does in terms of how they make money. But then they use this to make a comprehensive trading strategy by saying, well then I'm going to overlay the price movement and try and find good times to buy and good times to trim or sell at a given time.

Josh Robb:

Yep.

Austin Wilson:

So those are ways that that could be used. Again, both approaches work, both approaches have worked historically, and this is a way to get a really holistic view on stock performance going forward.

[12:11] - Dad Joke of the Week

Josh Robb:

Okay, now let's take a break before we get into the cons of it. And I got a joke for you. I got a puppy recently,

Austin Wilson:

Yeah. I know you did.

Josh Robb:

A little dog, a little puppy. So what do you call a musical puppy?

Austin Wilson:

I don't know.

Josh Robb:

A subwoofer.

Austin Wilson:

A subwoofer.

Josh Robb:

Yes.

Austin Wilson:

I thought you were going to say something about Beethoven.

Josh Robb:

No. Subwoofer.

Austin Wilson:

Subwoofer.

Josh Robb:

Yes.

Austin Wilson:

I was just thinking about my dog this weekend. He's cute. He's fun,

Josh Robb:

Yeah.

Austin Wilson:

But he is a firebox. Is your dog warm? Do you know? Dog's temperatures are more than humans. They're 100 and some degrees.

Josh Robb:

I would believe it. So Baxter, my big dog, 100 pounds. He is like a heated blanket. He likes to cuddle. He'll lay on you and it's just like you start sweating, you start sweating.

Austin Wilson:

Oh, yeah.

Josh Robb:

He likes to sleep on the hardwood floor because that is a cooler spot to cool him down. Our little dog, Indiana Jones, Indy is a smaller dog. On your lap, you don't really notice it as much. His preference to sleep is on one of the air conditioning vents.

Austin Wilson:

Really?

Josh Robb:

Yes. On one of the things on the floor. He'll curl up on there when it's on, and he likes to just sleep right on that vent.

Austin Wilson:

That's great.

Josh Robb:

So yeah, I would definitely see how they're warm.

Austin Wilson:

Well, our little dog, even in the summer, so we're running the air at night because I like to sleep a little cool. He sleeps on our bed. He's not a big dog. You've met Samson before, but he gets chilly in the middle of the night and then wants to get under the covers. So he'll work his way towards the head and one of us has to lift up the cover and he gets under there.

Josh Robb:

Yep.

Austin Wilson:

And then it's a firebox.

Josh Robb:

Yeah, he warms everything up.

Austin Wilson:

I'm like, dude, I'm sweating.

Josh Robb:

Made my toes sweat.

Austin Wilson:

It's July or August and it's 100 degrees outside. You don't need to be in here. So anyway, that's dogs. So technical analysis, we're circling back.

Josh Robb:

Ready.

[14:45] - Five Cons of Technical Analysis

Austin Wilson:

Now we talked about five pros. We're going to talk about five cons of technical analysis to kind of give an objective view of,

Josh Robb:

Yes.

Austin Wilson:

What's going on here. Speaking of objectivity, subjectivity is number one.

Josh Robb:

There you go.

Austin Wilson:

So technical analysis is really all based on the interpretive aspect of charts.

Josh Robb:

You're looking at a chart.

Austin Wilson:

You're looking at a chart, and I'm looking at a chart.

Josh Robb:

You're going to decide.

Austin Wilson:

Do you think you and I are going to look at the same chart 100% the same?

Josh Robb:

No.

Austin Wilson:

It is interpretive.

Josh Robb:

Yes.

Austin Wilson:

We're going to see different trends. We're going to see different support or resistance, and it might mean different things to you and I much less every single person. So it's all very subjective based on what you use in your trading strategy or what that company or firm uses in their trading strategy. So very subjective there. Personal biases can actually really influence how you view technical analysis in general, or what works and what doesn't work. So it's very subjective. Everyone views it a little bit differently or uses it a little bit differently, which means it's not going to be viewed the same across the board.

Josh Robb:

An example of that is, let's say you really like a company. You could look at a downward trend and say, ooh, this is a good opportunity. There's support there. And then someone who's not so confident in that company will look at that downward trend and say, look at these. So yeah, you look at the same chart. One person says, oh, this is a great time. The other one says, oh, these are signals that I should not be in this.

Austin Wilson:

Yep.

Josh Robb:

So you're right, very subjective, and you got to be careful that you're aware of your bias as you look at the chart.

Austin Wilson:

Absolutely. So number two kind of hits on what we talked about a little bit earlier, but because you're using price, if you are using technical analysis solely, you're using price and volume and moving averages and all of that stuff. Without looking and understanding the fundamental picture behind it, if you're ignoring the broader fundamental factors and not understanding the industry, the economic conditions, you often could be a little bit blind to the long-term thinking. It's often viewed as,

Josh Robb:

The dotcom bubble is what really, I mean, if you want to talk about a example of this, in the early 2000s, the dotcom bubble, people were moving the price up by buying new tech,

Austin Wilson:

Internet names.

Josh Robb:

Internet named stocks. If you have dotcom in your name, you were doing awesome in 19, late 90s.

Austin Wilson:

99.

Josh Robb:

And the problem was if you didn't look at the fundamentals, these guys weren't making money.

Austin Wilson:

No.

Josh Robb:

They were losing money. There was no chance of profits ever, but the price was moving because people are all excited about this new trend. So that's in my mind a great example of that, that if you're not looking at the company at some point in time, you may see a trend that is not sustainable or that is artificially being moved.

Austin Wilson:

Absolutely. Number three con of technical analysis is that sometimes it can turn into somewhat of a self-fulfilling prophecy. So if Josh and I really are, and we're managing billions of dollars,

Josh Robb:

Yeah.

Austin Wilson:

If we're on the same page with what indicators we're looking for and an indicator flips, I'm going to do this, and then he's going to do it, and it could involve buying or selling at the same time, but it's really going to amplify the market movements, especially if we're moving big money. Well, if you think about multiplying that by the trillions of dollars that are out there in the system that are being moved by big money managers, oftentimes that is what happens to markets. So they're going to be more volatile because of things like technical analysis at certain levels when certain events occur, because some events and some technical indicators are widely followed by different people to trigger an action.

Josh Robb:

Yeah.

Austin Wilson:

When those actions are triggered, they're not just triggered for them, they're going to be triggered by someone else.

Josh Robb:

Everybody. Yep.

Austin Wilson:

And that can make big price movements. So it's kind of somewhat of a self-fulfilling prophecy at times. Number four, in very volatile markets, and look at 2022 maybe as an example, technical analysis can be somewhat ineffective because oftentimes it's hard when markets are doing great to be saying, oh, it's time to get bearish because things look great. But that's really what you should be doing at those times. And same thing on the other end. When things are in a very, very big downtrend, it's very hard to get bullish from a technical perspective because everything is working against you. So that's where, again, like I mentioned earlier, often you'll miss the very bottom and you'll miss the very top, but hopefully you'll capture a lot of the in-between on either sides there.

Josh Robb:

Yep.

Austin Wilson:

But that's why you also have to consistently be aware of overlaying things like fundamentals and the economy with the technical side of things as well. I think they really,

Josh Robb:

That's where those stop-losses,

Austin Wilson:

They can help.

Josh Robb:

Well, not only help, but that could be ineffective in that if you have a volatile market, you could be triggering,

Austin Wilson:

Oh, all the time.

Josh Robb:

Yeah. And it may have been a short blip. You triggered your thing and now you're out and then it recovers real quick and you're like, oh, crap, I didn't want to do that. I should have just waited. And so some of these little things, especially if you tack on stop-losses, those type of things to your analysis,

Austin Wilson:

Yeah.

Josh Robb:

A very volatile market could trigger them in what would be maybe a short term, like an earnings release, the thing goes down 9% and then by the end of the day it's back to normal.

Austin Wilson:

Right.

Josh Robb:

Well, it may trigger something because of your analysis so.

Austin Wilson:

Yeah. And I think that this is also an instance of where if you have breaking news, sudden news like North Korea launches a nuke, even if it's not 100% real,

Josh Robb:

Yep.

Austin Wilson:

If someone gets ahold of it and it hits Twitter, the market is going to have potentially a huge reaction. And even if it's not true, it hasn't been fact tested, you could have major market sell off that triggers a bunch of false technical indicators and then people can't sell fast enough. And then all them, I mean, we should probably have a whole different episode around the different thresholds on when the market shuts down. But that actually happens as well to prevent things from going too crazy.

Josh Robb:

Yeah. Compounding. Yeah.

Austin Wilson:

Yeah. But yeah, sometimes in volatile markets when there are major things happening can be a little bit ineffective.

Josh Robb:

So two billionaires agree to a cage match, that can move the market on their stocks.

Austin Wilson:

That's why from what I hear,

Josh Robb:

Yes.

Austin Wilson:

From what I hear, is also not going to happen.

Josh Robb:

Yes, probably not.

Austin Wilson:

Zuckerberg would win.

Josh Robb:

Yeah, probably. He studied some martial arts is my understanding.

Austin Wilson:

Yep. Fifth and final con that we're going to talk about today is that technical analysis is not always the best at predicting the future. It can be very accurate, but it's not always the best indicator. It often can have some great insights into some price moves, but it's definitely not a guarantee for what could happen in the future because historical results are no guarantee of what's going to happen in the future. And we can say that with compliance, hats on, that's very true.

Josh Robb:

If it worked 100% of the time, one or two things would happen. I'm going to say one, whoever figured out wouldn't tell anybody, or two, if it worked, everybody would use it and it'd be ineffective at that point.

Austin Wilson:

Exactly.

Josh Robb:

And so just like any other kind of decision making, we'll talk about this, but technical analysis has merits to helping somebody make decisions, but it's not foolproof. It's not 100% guaranteed. And whatever charts you looked at, metrics you decide on, you got to make sure you're making decisions that fit because following blindly, any decision making process is not a healthy thing to do in investing.

Austin Wilson:

And there's definitely, there's instances where the technical patterns that we think are in process, whether that be a flag, a cup and handle whatever, look up different ideas, sometimes it looks like it's going to head in that direction and it just fails to materialize. But a lot of people put a lot of eggs in the basket. That was what was going to happen. But a lot of times it does too. It's just not, it's not 100% accurate there. So I guess those are the five pros and five cons.

So in conclusion, there are definitely some things that technical analysis has going for it, things that can help, but there are some risks, and it's not 100% accurate in any way, shape or form. This is really where we would encourage you to do your own research, find what you think fits your financial situation in terms of your strategy for investing. Perhaps you're a little bit more short-term, perhaps you're a little bit more longer-term. It may have a different piece in your tool belt than it does for someone else.

Josh Robb:

Yep.

[22:32] - Overall Thoughts & Opinions

Austin Wilson:

Always keep in mind the risk with using indicators like this and then time horizon needed to do there. But yeah, that's kind of where we are. Josh, what are your overall thoughts on the topic?

Josh Robb:

Yeah, I think for the average person who is setting up long-term financial goals, which is what I spent a lot of my time with clients with, is saying, okay, what are we trying to do with this money? If it's short-term on my end, it's just, let's take less risk for short-term goals versus long-term goals. And so short-term, I don't want to take a risk. I don't really want to be trying to get in and out and move in time to market, so I don't use this a lot. Long-term, it's kind of one of those things where for the average person who maybe is doing it themselves, again, if you have a long-term goal, this isn't super helpful. You find some good high quality things, just hold onto them.

Austin Wilson:

Or just keep buying DCA, dollar cost average.

Josh Robb:

Yeah. And so I get the value of it. For a lot of people, it's extra work for minimal gain.

Austin Wilson:

Right.

Josh Robb:

For those that want to spend the time day in and day out and learn, I could see where you can add a little bit of extra growth onto your portfolio utilizing this but understand the risk you're taking because every trend lasts so long until a new trend starts.

Austin Wilson:

Right.

Josh Robb:

And so, figuring those out take a lot of time and patience. And for most people, the time it takes to do this well may not be worth what you get out of it.

Austin Wilson:

Absolutely.

Josh Robb:

For the average person.

Austin Wilson:

Yep. I would totally echo what you're saying. In what I do,

Josh Robb:

Yes.

Austin Wilson:

I think that this can be a helpful tool. I use technical analysis more as finding a good opportunity to take some gains off the table for a winner that we've had, or, Hey, I'm looking at the fundamental situation of this company and it looks pretty good, but the stock has just not done well. I think that's an opportunity. So I use it more for that than driving my trading decisions. However, I totally think that they can work together.

Josh Robb:

Yes, and you have the time.

Austin Wilson:

And yes,

Josh Robb:

To do that.

Austin Wilson:

Exactly. I look at the charts and,

Josh Robb:

And you have the time and resources because again, getting this data now, there's some free out there. There's websites that give you, especially if you're looking at indexes, you can usually find those pretty easy daily charts for just about anything. But access to the research to give you those comparisons and look at those trends or comparative against other things is very helpful and,

Austin Wilson:

Absolutely.

Josh Robb:

You're right, it can add value to making those decisions.

Austin Wilson:

All right, well thank you for listening. If you had someone in your world asking about technical analysis or day training,

Josh Robb:

Yep.

Austin Wilson:

Send them this episode. Hopefully we can help provide some insight to them. As always, feel free to email us any episode ideas to hello@theinvesteddads.com. We're just happy you're here. So, thank you and until next Thursday, have a great week.

Josh Robb:

Talk to you later.

Austin Wilson:

Bye.

Thank you for listening to The Invested Dads Podcast. This episode has ended, but your journey towards a better financial future doesn't have to. Head over to theinvesteddads.com to access all the links and resources mentioned in today's show. If you enjoyed this episode and we had a positive impact on your life, leave us a review, click subscribe and don't miss the next episode.

Josh Robb and Austin Wilson work for Hixon Zuercher Capital Management. All opinions expressed by Josh, Austin, or any podcast guests are solely their own opinions and do not reflect the opinions of Hixon Zuercher Capital Management. This podcast is for informational purposes only and should not be relied upon for investment decisions. Clients of Hixon Zuercher Capital Management may maintain positions in the securities discussed in this podcast. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk including the potential for loss of principle. There is no assurance that any investment plan or strategy will be successful.