Commerce:Technical Analysis
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Technical analysis is the study of historical stock prices and market behavior to identify patterns and predict future price trends. The objectives of technical analysis are to analyze company performance, predict stock price trends, and help investors make investment decisions. Technical analysis assumes that price discounts all factors, prices tend to move in trends, and history tends to repeat itself. It considers factors like price, time, volume, and breadth to analyze charts and identify support/resistance levels to assist with entry points.
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Fundamental analysis and technical analysis
This document discusses fundamental analysis techniques for evaluating securities. It defines fundamental analysis as focusing on underlying business factors like financials, management, and prospects to determine a security's value. The document outlines different levels of analysis, including analyzing the overall economy, individual industries, and specific companies. It provides examples of analyzing economic indicators, using Porter's Five Forces for industry analysis, evaluating competitors, and assessing profitability metrics. The goal of fundamental analysis is to answer questions about a company's growth, profits, competitive positioning, debt repayment ability, and accounting practices.
Security Analysis
This document provides an overview of security analysis, which involves analyzing tradeable financial instruments like stocks, bonds, and derivatives. It discusses the main approaches to security analysis: fundamental analysis and technical analysis. Fundamental analysis examines underlying business and economic factors, while technical analysis focuses on price trends and momentum. The document then goes into more detail about fundamental analysis and the three steps involved: economic analysis, industry analysis, and company analysis. It provides examples of key variables to consider in each type of analysis.
EFFICIENT MARKET THEORY.pptx
The document discusses the efficient market hypothesis (EMH) which argues that stock prices reflect all available information. It defines three forms of market efficiency - weak, semi-strong, and strong - based on the types of information reflected in stock prices. The weak form states that prices reflect all historical price data, while the semi-strong form argues that prices immediately incorporate publicly available information. Empirical tests provide mixed support for the different forms of the EMH. The document also discusses potential market inefficiencies and anomalies that appear to contradict the EMH, such as the size effect and January effect.
Fundamental analysis
Fundamental analysis examines the economic, industry, and company performance to make investment decisions. It has three components: economic analysis, industry analysis, and company analysis. Economic analysis determines if conditions encourage business growth by considering factors like the economy, monetary policy, inflation, interest rates, and fiscal policy. Tools for economic analysis include GDP, monetary policy, inflation, interest rates, and consumer sentiment. Industry analysis examines the overall health and outlook of a specific industry. Company analysis evaluates the individual company's performance and outlook.
Securities market
The document discusses various aspects of securities markets and financial markets. It describes the key components and participants in primary and secondary markets. The primary market, also called the new issue market, deals with the initial sale of new securities to investors. Major functions of the primary market include origination, underwriting, and distribution of new securities issues. Common methods to float new issues include public issues, rights issues, and private placements. The secondary market provides for the trading of previously-issued securities among investors.
Fundamental analysis
- Fundamental analysis is the evaluation of a company or asset based on its financial statements and overall economic factors to determine its intrinsic value. It involves examining historical and present data along with financial forecasts to estimate future performance.
- There are two main types of fundamental analysis: macro analysis, which looks at broader economic and industry factors, and micro analysis, which analyzes individual companies and stocks.
- The fundamental analysis process typically involves a top-down approach starting with macro analysis of the overall economy and industry, then micro analysis of specific companies within industries. The goal is to identify underpriced or overpriced stocks based on their estimated intrinsic value.
Fundamental analysis
Fundamental analysis is a logical and systematic approach to evaluating securities by examining related economic, financial, and other qualitative and quantitative factors. It involves analyzing macroeconomic factors like GDP growth, as well as industry conditions and company-specific factors to estimate a security's intrinsic value and forecast future performance. The goal is to identify securities that are underpriced (presenting opportunities) or overpriced (presenting risks). Fundamental analysis uses various techniques including demand-supply analysis, price elasticity, balance sheets, and regression analysis to value assets and predict price movements.
Efficient market hypothesis
- Eugene Fama introduced the efficient market hypothesis in the 1960s, which states that intense competition in capital markets leads to fair pricing of securities.
- Fama suggested three forms of market efficiency - weak, semi-strong, and strong. Weak-form says prices reflect all past price and volume data. Semi-strong says prices rapidly reflect all public information. Strong-form says prices reflect all public and private information.
- Empirical evidence generally supports weak-form but is mixed for semi-strong. Strong-form is not supported. Overall, while anomalies exist, the efficient market hypothesis remains the best description of how stock markets work.
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This document discusses fundamental analysis techniques for evaluating securities. It defines fundamental analysis as focusing on underlying business factors like financials, management, and prospects to determine a security's value. The document outlines different levels of analysis, including analyzing the overall economy, individual industries, and specific companies. It provides examples of analyzing economic indicators, using Porter's Five Forces for industry analysis, evaluating competitors, and assessing profitability metrics. The goal of fundamental analysis is to answer questions about a company's growth, profits, competitive positioning, debt repayment ability, and accounting practices.
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This document provides an overview of security analysis, which involves analyzing tradeable financial instruments like stocks, bonds, and derivatives. It discusses the main approaches to security analysis: fundamental analysis and technical analysis. Fundamental analysis examines underlying business and economic factors, while technical analysis focuses on price trends and momentum. The document then goes into more detail about fundamental analysis and the three steps involved: economic analysis, industry analysis, and company analysis. It provides examples of key variables to consider in each type of analysis.
EFFICIENT MARKET THEORY.pptx
The document discusses the efficient market hypothesis (EMH) which argues that stock prices reflect all available information. It defines three forms of market efficiency - weak, semi-strong, and strong - based on the types of information reflected in stock prices. The weak form states that prices reflect all historical price data, while the semi-strong form argues that prices immediately incorporate publicly available information. Empirical tests provide mixed support for the different forms of the EMH. The document also discusses potential market inefficiencies and anomalies that appear to contradict the EMH, such as the size effect and January effect.
Fundamental analysis
Fundamental analysis examines the economic, industry, and company performance to make investment decisions. It has three components: economic analysis, industry analysis, and company analysis. Economic analysis determines if conditions encourage business growth by considering factors like the economy, monetary policy, inflation, interest rates, and fiscal policy. Tools for economic analysis include GDP, monetary policy, inflation, interest rates, and consumer sentiment. Industry analysis examines the overall health and outlook of a specific industry. Company analysis evaluates the individual company's performance and outlook.
Securities market
The document discusses various aspects of securities markets and financial markets. It describes the key components and participants in primary and secondary markets. The primary market, also called the new issue market, deals with the initial sale of new securities to investors. Major functions of the primary market include origination, underwriting, and distribution of new securities issues. Common methods to float new issues include public issues, rights issues, and private placements. The secondary market provides for the trading of previously-issued securities among investors.
Fundamental analysis
- Fundamental analysis is the evaluation of a company or asset based on its financial statements and overall economic factors to determine its intrinsic value. It involves examining historical and present data along with financial forecasts to estimate future performance.
- There are two main types of fundamental analysis: macro analysis, which looks at broader economic and industry factors, and micro analysis, which analyzes individual companies and stocks.
- The fundamental analysis process typically involves a top-down approach starting with macro analysis of the overall economy and industry, then micro analysis of specific companies within industries. The goal is to identify underpriced or overpriced stocks based on their estimated intrinsic value.
Fundamental analysis
Fundamental analysis is a logical and systematic approach to evaluating securities by examining related economic, financial, and other qualitative and quantitative factors. It involves analyzing macroeconomic factors like GDP growth, as well as industry conditions and company-specific factors to estimate a security's intrinsic value and forecast future performance. The goal is to identify securities that are underpriced (presenting opportunities) or overpriced (presenting risks). Fundamental analysis uses various techniques including demand-supply analysis, price elasticity, balance sheets, and regression analysis to value assets and predict price movements.
Efficient market hypothesis
- Eugene Fama introduced the efficient market hypothesis in the 1960s, which states that intense competition in capital markets leads to fair pricing of securities.
- Fama suggested three forms of market efficiency - weak, semi-strong, and strong. Weak-form says prices reflect all past price and volume data. Semi-strong says prices rapidly reflect all public information. Strong-form says prices reflect all public and private information.
- Empirical evidence generally supports weak-form but is mixed for semi-strong. Strong-form is not supported. Overall, while anomalies exist, the efficient market hypothesis remains the best description of how stock markets work.
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Merchant and investment banking
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Efficient market hypothesis
This document summarizes the efficient market hypothesis (EMH) in three sentences:
The EMH states that market prices fully reflect all available public information and adjust instantly to new information. It has three forms - weak, semi-strong, and strong - with each form incorporating more types of information. Most research supports the weak and semi-strong forms, finding that historical data and public information are reflected in prices, but the strong form is not supported as non-public information can be used to earn excess returns.
secondary market ppt.
This document discusses the capital market and secondary market in India. It defines the key terms like money market, capital market, primary market and secondary market. The secondary market refers to the market where securities are traded after the initial public offering. The document also describes the role of brokers and sub-brokers in trading, the trading process, settlement process, brokerage and other charges involved in trading. It provides details on various concepts related to stock exchanges like corporatization, demutualization and obligations of brokers.
New issue market
The document discusses the process of issuing stocks to the public market for the first time (initial public offering) in India. It describes the key parties involved - lead managers who manage the issue, registrars who handle registrations, underwriters who guarantee subscriptions, bankers who handle funds, advertising agents, and regulatory agencies. It also outlines the different methods used for public issues - prospectus, bought deals, private placements, rights issues, and book building.
7. stock market indices
Stock market indices like the Sensex and Nifty provide a broad overview of market movements by representing thousands of listed companies. They help investors track overall trends, evaluate portfolio performance against the market, and understand how economic policies impact prices. The composition, weighting, and calculation methodology of different indices can vary in terms of number of constituent stocks, industries covered, and treatment of factors like market capitalization and liquidity.
Funds flow statement
The document discusses funds flow statements and their preparation. It provides definitions of key terms like working capital and flow of funds. It explains that a funds flow statement depicts changes in working capital between two balance sheet dates by analyzing changes in current assets and current liabilities. The summary also shows how to prepare schedules of changes in working capital and sources and uses of funds statements to analyze the flow of funds.
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2. New trends in reporting include developments in gender equality reporting, sustainability reporting, and compliance through websites. Global trends are driving greater transparency in areas like carbon emissions reporting.
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Capital Markets
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Fundamental analysis ppt
Fundamental analysis involves analyzing a company's financial statements, management, competitive advantages, and markets to determine the intrinsic value of its stock. It focuses on factors like earnings, production, management, and the overall economy for futures and forex. The key aspects of fundamental analysis include examining economic, financial, qualitative and quantitative factors of a company and its industry to predict stock price movements and evaluate business performance and management. Some tools used are earnings per share, price-earnings ratio, dividend yield, and analysis of statements like the balance sheet and income statement.
Foreign exchange arithmetic
The document discusses foreign exchange arithmetic and provides examples of calculating foreign exchange rates and transactions. It begins with an example of calculating spot and forward rates for USD/INR. It then provides additional examples of calculating spot rates for EUR/USD and USD/JPY. Further examples demonstrate calculations for transactions involving bills of exchange with different maturity periods and usance periods. The document also discusses principles for cancelling transactions and calculating profits or losses from cancellations. Finally, it discusses swaps and how banks use them to manage maturity mismatches in their foreign exchange positions.
fundamental analysis
noorulhadi Lecturer at Govt College of Management Sciences, noorulhadi99@yahoo.com
i have prepared these slides and still using in mylectures, Reference: Portfolio management by S kevin and onlin
Fundamental analysis
Fundamental analysis is a method of evaluating securities that involves performing an analysis of the underlying company and industry. It examines factors like the overall economy, industry conditions, and the financial condition and management of companies to determine a company's intrinsic value. The analysis involves evaluating economic, industry, and company-specific factors to estimate future earnings and stock prices. Some key aspects of fundamental analysis include analyzing the economy, industry life cycles, and individual company financials and operations.
Risk and return measurement
This document discusses the concepts of risk and return in investments. It defines risk as the uncertainty of expected returns, which can be caused by factors both related and unrelated to the investment. Systematic risk refers to uncertainty from broader market factors that affect all investments, while unsystematic risk is specific to a particular investment. Standard deviation and beta are introduced as quantitative measures of risk. Standard deviation measures how much returns vary from the average, while beta measures the volatility of a security compared to the overall market. The security market line equation is presented to demonstrate how beta is used to determine the required rate of return based on the risk-free rate and market risk premium.
New Issue Market
The document discusses various aspects of new issue markets, including the meaning, functions, and methods of floating new issues. It describes the main functions of new issue markets as facilitating the transfer of resources from savers to users and mobilizing funds from savers to borrowers. The key methods of floating new issues discussed are public issues, rights issues, private placements, and preferential issues. It also covers various other topics related to new issue markets such as pricing of issues, offer documents, listing of securities, and participants in securities markets.
Fundamental and Technical Analysis
The document provides an overview of security analysis and different analytical techniques used, including fundamental analysis and technical analysis.
Fundamental analysis involves analyzing the economy, industry, and company to determine a company's intrinsic value. Technical analysis uses historical price and volume data to identify trends and patterns that can predict future price movements. Key techniques include chart analysis and identifying support/resistance levels and patterns like head and shoulders. The efficient market hypothesis suggests stock prices already reflect all available public information and it is difficult to outperform the overall market through analysis alone.
Investment Vs Speculation , Gambling and Arbitrage
This document discusses the differences between investment, speculation, gambling, and arbitrage. Investment is characterized as having a long time horizon of over 12 months, limited risk, stable income from enterprise earnings, and cautious investors using their own funds. Speculation has a short time horizon under 12 months, high risk, uncertain income from price changes, and aggressive investors using both own and borrowed funds. Gambling involves risk for the sake of risk with no investment view. Arbitrage earns risk-free profits from temporary price differences in efficient markets.
Technical analysis intro
The document discusses schools of stock analysis, including fundamental analysis and technical analysis. It provides details on how fundamental analysis uses financial statements and other factors to determine a stock's intrinsic value, while technical analysis focuses on patterns in historical stock prices and volumes to predict future supply and demand. The document also outlines the key components of technical analysis, including trends, prices, volumes, and time frames. It describes different trend types such as uptrends, sideways trends, and downtrends.
Fundamental and technical analysis (sapm)
This document provides information on fundamental analysis and technical analysis. Fundamental analysis examines quantitative and qualitative factors that may impact a company, industry or economy to assess a stock's intrinsic value. Technical analysis uses past stock price and volume data to predict future price movements. Some key differences are that fundamental analysis focuses on long-term investing based on financials while technical analysis focuses on short-term trading based on price trends and momentum.
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Merchant and investment banking
Definition and history of merchant and investment banking, Who is a merchant banker, difference between investment and commercial banking and roles and functions of merchant and investment banking.
Stock market project for mba finance
The document discusses security analysis of selected power sector securities listed on the Bombay Stock Exchange. It aims to conduct fundamental and technical analysis of leading power sector companies. The study selects six companies - NTPC, RELIANCE, POWERGRID, NHPC, TATAPOWER and ADANI POWER - to analyze their financial strength and future investment prospects through fundamental ratios and technical tools like bar charts and moving averages. The analysis seeks to evaluate company performance, stock movement, and risk-return to identify companies that ensure maximum return with minimum risk for investors in the power sector.
Efficient market hypothesis
This document summarizes the efficient market hypothesis (EMH) in three sentences:
The EMH states that market prices fully reflect all available public information and adjust instantly to new information. It has three forms - weak, semi-strong, and strong - with each form incorporating more types of information. Most research supports the weak and semi-strong forms, finding that historical data and public information are reflected in prices, but the strong form is not supported as non-public information can be used to earn excess returns.
secondary market ppt.
This document discusses the capital market and secondary market in India. It defines the key terms like money market, capital market, primary market and secondary market. The secondary market refers to the market where securities are traded after the initial public offering. The document also describes the role of brokers and sub-brokers in trading, the trading process, settlement process, brokerage and other charges involved in trading. It provides details on various concepts related to stock exchanges like corporatization, demutualization and obligations of brokers.
New issue market
The document discusses the process of issuing stocks to the public market for the first time (initial public offering) in India. It describes the key parties involved - lead managers who manage the issue, registrars who handle registrations, underwriters who guarantee subscriptions, bankers who handle funds, advertising agents, and regulatory agencies. It also outlines the different methods used for public issues - prospectus, bought deals, private placements, rights issues, and book building.
7. stock market indices
Stock market indices like the Sensex and Nifty provide a broad overview of market movements by representing thousands of listed companies. They help investors track overall trends, evaluate portfolio performance against the market, and understand how economic policies impact prices. The composition, weighting, and calculation methodology of different indices can vary in terms of number of constituent stocks, industries covered, and treatment of factors like market capitalization and liquidity.
Funds flow statement
The document discusses funds flow statements and their preparation. It provides definitions of key terms like working capital and flow of funds. It explains that a funds flow statement depicts changes in working capital between two balance sheet dates by analyzing changes in current assets and current liabilities. The summary also shows how to prepare schedules of changes in working capital and sources and uses of funds statements to analyze the flow of funds.
Corporate Reporting Practices
1. The document discusses corporate reporting standards and frameworks, including financial reporting, corporate governance, executive remuneration, and corporate social responsibility. It outlines the benefits of reporting for companies, communities, and the environment.
2. New trends in reporting include developments in gender equality reporting, sustainability reporting, and compliance through websites. Global trends are driving greater transparency in areas like carbon emissions reporting.
3. The document provides tips for effective corporate reporting, including presenting key information and metrics clearly, using charts to illustrate trends and risks, and reconciling non-GAAP measures with GAAP standards. Good practices include selecting illustrative examples and seeking feedback through reporting awards.
Efficient Market Hypothesis (EMH)
This is a formal presentation about the topic - Efficient Market Hypothesis (EMH). The progressive 3 forms of EMH are presented here in details.
Ppt on-money-market-1
The document provides an overview of the money market. It defines the money market as the market for short-term, highly liquid debt instruments with maturities of one year or less, such as treasury bills, commercial paper, and certificates of deposit. These instruments are traded by phone between financial institutions, corporations, brokers, and dealers. The money market helps facilitate short-term borrowing and lending for participants. It consists of various sub-markets that collectively make up this important segment of the financial system.
Capital Markets
The document provides an overview of capital markets, including its definition, objectives, key components and functions. It discusses the primary and secondary markets, and the major players in capital markets such as brokers, investment bankers, stock exchanges, underwriters, credit rating agencies, corporations, banks/financial institutions, and foreign investors.
Fundamental analysis ppt
Fundamental analysis involves analyzing a company's financial statements, management, competitive advantages, and markets to determine the intrinsic value of its stock. It focuses on factors like earnings, production, management, and the overall economy for futures and forex. The key aspects of fundamental analysis include examining economic, financial, qualitative and quantitative factors of a company and its industry to predict stock price movements and evaluate business performance and management. Some tools used are earnings per share, price-earnings ratio, dividend yield, and analysis of statements like the balance sheet and income statement.
Foreign exchange arithmetic
The document discusses foreign exchange arithmetic and provides examples of calculating foreign exchange rates and transactions. It begins with an example of calculating spot and forward rates for USD/INR. It then provides additional examples of calculating spot rates for EUR/USD and USD/JPY. Further examples demonstrate calculations for transactions involving bills of exchange with different maturity periods and usance periods. The document also discusses principles for cancelling transactions and calculating profits or losses from cancellations. Finally, it discusses swaps and how banks use them to manage maturity mismatches in their foreign exchange positions.
fundamental analysis
noorulhadi Lecturer at Govt College of Management Sciences, noorulhadi99@yahoo.com
i have prepared these slides and still using in mylectures, Reference: Portfolio management by S kevin and onlin
Fundamental analysis
Fundamental analysis is a method of evaluating securities that involves performing an analysis of the underlying company and industry. It examines factors like the overall economy, industry conditions, and the financial condition and management of companies to determine a company's intrinsic value. The analysis involves evaluating economic, industry, and company-specific factors to estimate future earnings and stock prices. Some key aspects of fundamental analysis include analyzing the economy, industry life cycles, and individual company financials and operations.
Risk and return measurement
This document discusses the concepts of risk and return in investments. It defines risk as the uncertainty of expected returns, which can be caused by factors both related and unrelated to the investment. Systematic risk refers to uncertainty from broader market factors that affect all investments, while unsystematic risk is specific to a particular investment. Standard deviation and beta are introduced as quantitative measures of risk. Standard deviation measures how much returns vary from the average, while beta measures the volatility of a security compared to the overall market. The security market line equation is presented to demonstrate how beta is used to determine the required rate of return based on the risk-free rate and market risk premium.
New Issue Market
The document discusses various aspects of new issue markets, including the meaning, functions, and methods of floating new issues. It describes the main functions of new issue markets as facilitating the transfer of resources from savers to users and mobilizing funds from savers to borrowers. The key methods of floating new issues discussed are public issues, rights issues, private placements, and preferential issues. It also covers various other topics related to new issue markets such as pricing of issues, offer documents, listing of securities, and participants in securities markets.
Fundamental and Technical Analysis
The document provides an overview of security analysis and different analytical techniques used, including fundamental analysis and technical analysis.
Fundamental analysis involves analyzing the economy, industry, and company to determine a company's intrinsic value. Technical analysis uses historical price and volume data to identify trends and patterns that can predict future price movements. Key techniques include chart analysis and identifying support/resistance levels and patterns like head and shoulders. The efficient market hypothesis suggests stock prices already reflect all available public information and it is difficult to outperform the overall market through analysis alone.
Investment Vs Speculation , Gambling and Arbitrage
This document discusses the differences between investment, speculation, gambling, and arbitrage. Investment is characterized as having a long time horizon of over 12 months, limited risk, stable income from enterprise earnings, and cautious investors using their own funds. Speculation has a short time horizon under 12 months, high risk, uncertain income from price changes, and aggressive investors using both own and borrowed funds. Gambling involves risk for the sake of risk with no investment view. Arbitrage earns risk-free profits from temporary price differences in efficient markets.
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Technical analysis intro
The document discusses schools of stock analysis, including fundamental analysis and technical analysis. It provides details on how fundamental analysis uses financial statements and other factors to determine a stock's intrinsic value, while technical analysis focuses on patterns in historical stock prices and volumes to predict future supply and demand. The document also outlines the key components of technical analysis, including trends, prices, volumes, and time frames. It describes different trend types such as uptrends, sideways trends, and downtrends.
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This document provides information on fundamental analysis and technical analysis. Fundamental analysis examines quantitative and qualitative factors that may impact a company, industry or economy to assess a stock's intrinsic value. Technical analysis uses past stock price and volume data to predict future price movements. Some key differences are that fundamental analysis focuses on long-term investing based on financials while technical analysis focuses on short-term trading based on price trends and momentum.
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Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. The document discusses the assumptions and methods of technical analysis. It examines how technical analysis is used to identify trends and patterns in historical price data to predict future price movements. The document also reviews various technical analysis tools like charts, indicators, and patterns that analysts use to study supply and demand forces and make trading decisions.
Technical analysis Fundamentals
Technical analysis is a method of evaluating securities using historical price and volume data rather than fundamental factors like intrinsic value. It relies on the assumptions that markets discount all known information, prices move in trends, and history tends to repeat itself. Technicians analyze charts looking for patterns and trends to predict future price movements. Key concepts include identifying uptrends and downtrends using higher highs/lows and lower highs/lows, analyzing different trend lengths, and identifying support and resistance levels where prices tend not to fall or rise beyond. Understanding trends and support/resistance allows technicians to trade in the direction of the prevailing trend.
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Technical analysis
Technical analysis is an approach to security analysis that attempts to predict stock price movements by examining historical price data. It believes that stock prices are influenced by both rational and irrational demand and supply factors reflected in the price trends. The basic principles of technical analysis are that stock prices move in trends, shifts in demand and supply can be detected through price charts, and these patterns can be used to forecast future price movements. Dow theory, the roots of modern technical analysis, proposes that the stock market has primary long-term trends, secondary counter-trends, and minor day-to-day fluctuations.
Technical analysis
Patience may be virtue, but impatience can frequently be profitable.
The attempt to determine future share price movement and its reliability by references to historical data.
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The document discusses technical analysis, which uses historical market data like price and volume to analyze and predict future stock price movements. It covers the origins of technical analysis in Dow Theory from the early 1900s, which uses price bar charts and indicators to identify trends and patterns. The document contrasts technical analysis with fundamental analysis and outlines various technical analysis methods like chart patterns, trend lines, and oscillators to analyze price trends and determine optimal buy/sell points.
“Technical analysis” a study on selected stocks
The document discusses technical analysis and its use in analyzing stocks. It provides an overview of technical analysis, including that it uses historical price and volume data to identify trends and patterns in order to predict future price movements. It also notes that technical analysis assumes markets are primarily psychological rather than logical. The document then discusses various technical analysis tools and methods, such as candlestick techniques and Dow theory. It concludes by noting that economists have traditionally been skeptical of technical analysis due to theories of efficient markets.
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The document provides an overview of technical analysis and the tools used in technical analysis. It discusses how technical analysis studies past stock price movements and trends to attempt to predict future price movements. It describes common technical analysis tools like charts, indicators, and timeframes that analysts use to identify patterns in pricing data and make trading decisions. The document also reviews some of the strengths and weaknesses of technical analysis as a method for analyzing the stock market.
Technical Analysis Vs Fundamental Analysis.pdf
Technical analysis and fundamental analysis are two primary methods used by investors and traders to evaluate and make decisions in the financial markets. While both approaches aim to analyze and predict market movements, they differ significantly in their methodologies and focus. In this post, we will look at the basic differences between technical and fundamental analysis, their strengths and weaknesses, and how they can be used to analyse market movement of any company using Technical & Fundamental analysis.
1. Introduction
In the stock markets, traders use various trading strategies and makes proper research to make informed decisions before buying, selling, or holding assets. Two prominent methods used for analysis are technical analysis and fundamental analysis. Each approach offers a unique perspective on market behaviour and helps investors make decisions based on different sets of information.
2. Understanding Technical Analysis
The Basics of Technical Analysis
Technical analysis focuses on studying historical market data, such as price and volume, to identify patterns and trends that can help predict future price movements. It is based on the belief that historical price data can provide insights into the psychology of market participants and that these patterns tend to repeat over time.
Common Tools and Indicators in Technical Analysis
Technical analysts use a wide range of tools and indicators to analyze price charts and identify patterns. Some commonly used tools include moving averages, trendlines, support and resistance levels, and oscillators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). These tools help in generating signals for buying or selling securities based on specific conditions or patterns observed on price charts.
Limitations of Technical Analysis
Technical analysis has certain limitations that investors should be aware of. Firstly, it completely relies on historical price data of the companies, and it does not take into account the underlying factors that may affect the value of an asset of the company. Additionally, technical analysis is based on the assumption that market participants behave in predictable patterns, which may not always hold true. Lastly, interpreting and analyzing charts and indicators require skill and experience, as different analysts may interpret the same data differently.
3. Understanding Fundamental Analysis
The Basics of Fundamental Analysis
Fundamental analysis aims to evaluate the intrinsic value of an asset by analyzing various economic, financial, and qualitative factors that may impact its future performance. It involves assessing the financial health of a company, analyzing industry trends, evaluating macroeconomic indicators, and considering management quality, among other factors.
Key Factors Analyzed in Fundamental Analysis
Fundamental analysts examine a wide range of factors to assess the value of an asset. These include revenue and earnings
157590592109 2110
This document outlines a research study that will analyze the performance of the BSE (SENSEX) index over the last five years using technical analysis indicators such as simple moving average (SMA), exponential moving average (EMA), and relative strength index (RSI). The study will collect secondary data on the SENSEX from 2011 to 2016 and use analytical tools to test hypotheses about whether the index performance was poor according to the different technical indicators. The results of the study aim to provide guidance to investors on using technical analysis to identify market strengths and weaknesses.
Technical analysis, market efficiency, and behavioral finance
Technical analysis uses patterns in stock prices and trading volume to predict future market movements and identify trading opportunities. The efficient market hypothesis states that stock prices instantly reflect all available information, making technical analysis ineffective. However, behavioral finance suggests psychological factors influence investor decisions and market anomalies exist, challenging the notion of complete market efficiency.
Ratnakar securities private limited ; milan
This document is a report submitted by Milan Shah to fulfill the requirements of an MBA summer training program at Ratnakar Securities Private Limited on the topic of technical analysis of stocks. It includes an introduction explaining what technical analysis is and how it differs from fundamental analysis by focusing only on historical price and volume data. The report will study trends, moving averages, indicators and develop and test trading strategies based on technical analysis tools. It aims to provide investors and analysts with examples of applying these techniques in Indian markets.
CHAPTER 8: FUNDAMENTAL VS. TECHNICAL ANALYSIS
The document discusses the key differences between fundamental analysis and technical analysis. Fundamental analysis relies on analyzing financial statements to determine a security's intrinsic value, while technical analysis focuses on price charts to identify market trends. Additionally, fundamentalists take a longer-term approach measured in years, whereas technical analysts use a shorter time scale of minutes to weeks. The approaches also differ in their focus on either value investing or trading for profits. While seen as opposing strategies, the document notes that combining the two can produce good trading results.
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Commerce:Technical Analysis
- 1. Technical Analysis Jinu Josy Assistant Professor Department of Commerce St. Mary’s College Thrissur
- 2. Technical Analysis,Jinu Josy, St.Mary’s College Technical Analysis - Meaning The study of historical stock prices and stock market behaviour to identify recurring patterns in the data. This is a study of market action primarily through the use of charts for the purpose of forecasting future price trends.
- 3. Technical Analysis,Jinu Josy, St.Mary’s College Objectives of Technical Analysis To analyze the performance of companies and to predict the future trends in the share prices Helps to interpret on whether to buy or sell a particular stock To suggest the investors in making investment decisions in selected stocks To study the equity timing of investment
- 4. Technical Analysis,Jinu Josy, St.Mary’s College Assumptions of Technical Analysis Price Discounts Everything Price Move in Tends History Tends to Repeat
- 5. Technical Analysis,Jinu Josy, St.Mary’s College Main considerations in Technical Analysis Price - Changes in price reflect in investors attitudes Time - The degree of movements in price is a function of time. Volume - Intensity of price changes is reflected in the volume transactions. Breadth - Indicates the price changes have taken place in the market in accordance with a certain overall limit.
- 6. Technical Analysis,Jinu Josy, St.Mary’s College Price Fields Open – Price of the first trade for the period High – Highest price that the security traded during the period Low - Lowest price that the security traded during the period Close – Last price that the security traded during the period
- 7. Technical Analysis,Jinu Josy, St.Mary’s College Price Fields Volume – The number of shares that were traded during the period Open Interest – The total number of outstanding contracts Bid - The price a market maker is willing to pay for a security Ask – The price a market maker is willing to accept
- 8. Technical Analysis,Jinu Josy, St.Mary’s College Advantages of Technical Analysis Focus on price Supply, demand and price action Support/Resistance Pictorial price history Assist with entry point
- 9. Technical Analysis,Jinu Josy, St.Mary’s College Criticisms of Technical Analysis Bias of Analyst Open to many interpretations Late exercise Absence of well defined levels Lack of uniformity
- 10. Technical Analysis,Jinu Josy, St.Mary’s College Difference between Fundamental Analysis and Technical Analysis Charts vs. Financial Statements Fundamental analyst tries to determine company’s value fron the financial statements Technical analysts believe there is no reason to analyse a company’s fundamentals.
- 11. Technical Analysis,Jinu Josy, St.Mary’s College Difference between Fundamental Analysis and Technical Analysis Time Horizon Fundamental analysis takes a relatively long term approach to analyse the market compared to technical analysis . Trading vs. Investing Technical analysis is used for a trade whereas fundamental analysis is used to make an investment.
- 12. Technical Analysis,Jinu Josy, St.Mary’s College REFERENCE Security Analysis and Portfolio Management ,Shashi K. Gupta, Rosy Joshi, Kalyani Publishers