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ChartSchool - Support and Resistance
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In finance , technical analysis is a security analysis discipline used for forecasting the direction of prices through the study of past market data, primarily price and volume. [ 1 ] Behavioral economics and quantitative analysis use many of the same tools of technical analysis, [ 2 ] [ 3 ] [ 4 ] [ 5 ] which, being an aspect of active management , stands in contradiction to much of modern portfolio theory . The efficacy of both technical and fundamental analysis is disputed by the efficient-market hypothesis which states that stock market prices are essentially unpredictable. [ 6 ] [ edit ] History The principles of technical analysis are derived from hundreds of years of financial markets data. [ 7 ] Some aspects of technical analysis began to appear in Joseph de la Vega 's accounts of the Dutch markets in the 17th century.


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