Technical analysis

In finance, technical analysis is an analysis methodology for analysing and forecasting the direction of prices through the study of past market data, primarily price and volume.^[1] As a type of active management, it stands in contradiction to much of modern portfolio theory. The efficacy of technical analysis is disputed by the efficient-market hypothesis, which states that stock market prices are essentially unpredictable,^[2] and research on whether technical analysis offers any benefit has produced mixed results.^[3]^[4]^[5] It is distinguished from fundamental analysis, which considers a company's financial statements, health, and the overall state of the market and economy.

^ Kirkpatrick & Dahlquist (2006), p. 3
^ Andrew W. Lo; Jasmina Hasanhodzic (2010). The Evolution of Technical Analysis: Financial Prediction from Babylonian Tablets to Bloomberg Terminals. Bloomberg Press. p. 150. ISBN 978-1576603499. Retrieved 8 August 2011.
^ Cite error: The named reference SurveysReview was invoked but never defined (see the help page).
^ Osler, Karen (July 2000). "Support for Resistance: Technical Analysis and Intraday Exchange Rates," FRBNY Economic Policy Review (abstract and paper here).
^ Cite error: The named reference Foundations was invoked but never defined (see the help page).

[Kirkpatrick_3-1] Kirkpatrick & Dahlquist (2006), p. 3

[2] Andrew W. Lo; Jasmina Hasanhodzic (2010). The Evolution of Technical Analysis: Financial Prediction from Babylonian Tablets to Bloomberg Terminals. Bloomberg Press. p. 150. ISBN 978-1576603499. Retrieved 8 August 2011.

[SurveysReview-3] Cite error: The named reference SurveysReview was invoked but never defined (see the help page).

[Osler-4] Osler, Karen (July 2000). "Support for Resistance: Technical Analysis and Intraday Exchange Rates," FRBNY Economic Policy Review (abstract and paper here).

[Foundations-5] Cite error: The named reference Foundations was invoked but never defined (see the help page).

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