By Michael Kahn
This e-book is set arming traders with one basic software that may increase the funding decision-making approach - the chart. it's not the Holy Grail or even if utilized precisely as provided there's no be sure that the reader should be profitable. yet possessing a top quality hammer is not any ensure that the consumer will construct a gorgeous apartment. The hammer is a device and typically the consumer will nonetheless desire different instruments - and information - to construct that condo. What this e-book will do is supply the reader the fundamentals had to examine a chart and get a think for what the industry or person inventory is doing. it's going to conceal in simple terms the nuts and bolts of chart research, slightly touching upon the subsequent point techniques and certainly leaving the whiz-bang stuff good on my own.
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Extra info for A Beginner's Guide to Charting Financial Markets: A Practical Introduction to Technical Analysis for Investors
Don’t let the empty space on the chart seen in February detract from the pattern. The rally at that point was just very steep, with some of it occurring between trading days, but the bottom line here is that Hanover formed an ascending triangle. When demand overwhelmed supply, prices moved higher from the pattern. A descending triangle sports a falling upper border and a flat bottom. Theoretically, the bulls are not quite as eager to start buying the stock at short-term lows as the bears are to sell short-term highs.
This concept will become much clearer later so don’t try to absorb it now. The shapes are: 1. rectangle (also known as a trading range) 2. triangle (also known as a pennant or wedge) 3. flag (similar to the others but with a bit more directional forecasting ability) 4. saucer (or rounded top/bottom) The differences may be subtle, or they may be extreme, but the bottom line is that the market is pausing and when it decides which way it wants to go from there, we just follow along. What creates the chart?
Sometimes the stock of a most excellent company can be priced so high as to make it a poor investment. Why use it? A logical question is: What does technical analysis do for me? The answer is that the ability to recognize when a stock has reached a support or resistance level, or a shift in perceptions takes place, can help investors know whether to use the: • buy low, sell high approach, or • buy high, sell higher approach, or • whether to buy the stock at all. The ability to apply this one aspect of chart reading will reveal the market to investors with the same impact as understanding the colours of a traffic light.