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The efficacy of technical analysis is disputed by the efficient-market hypothesis, which states that stock market prices are essentially unpredictable, [5] and research on whether technical analysis offers any benefit has produced mixed results. [6] [7] [8] Technical analysts or chartists are usually less concerned with any of a company's ...
In 1948, Robert D. Edwards and John Magee published Technical Analysis of Stock Trends which is widely considered to be one of the seminal works of the discipline. It is exclusively concerned with trend analysis and chart patterns and remains in use to the present.
Financial market prediction Joseph Ensign Granville (August 20, 1923 – September 7, 2013), often called Joe Granville, was a financial writer [ 1 ] and investment seminar speaker. He is most famous for inventing [ 2 ] and developing the concept of " On-balance volume (OBV)".
While The Technician analyzed broad market conditions, MetaStock analyzed individual securities (stocks, futures, mutual funds, etc.). In response to the increasing demand for real-time analysis of prices, MetaStock RT was released in July 1992. MetaStock RT received live, real-time quotes from Data Broadcasting’s Signal data feed.
On the technical analysis chart, the head and shoulders formation occurs when a market trend is in the process of reversal either from a bullish or bearish trend; a characteristic pattern takes shape and is recognized as reversal formation. [1]
Triangles within technical analysis are chart patterns commonly found in the price charts of financially traded assets (stocks, bonds, futures, etc.). The pattern derives its name from the fact that it is characterized by a contraction in price range and converging trend lines, thus giving it a triangular shape. [1]
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Benoit Mandelbrot, who developed mathematical models of market pricing based on fractal geometry, expressed caution about the validity of wave models: [13] But Wave prediction is a very uncertain business. It is an art to which the subjective judgment of the chartists matters more than the objective, replicable verdict of the numbers.