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What is percentage of success of technical analysis or charting?

Posted By On 7/25/2008 06:51:00 PM
1. One can study future performance of stocks by undertaking the technical analysis as it is a study of price and volume behavior in stock markets. One must understand that with technical analysis one can achieve close to 80% accuracy and anything more than that is bonus. It is to be understood that technical analysis is not a prediction or forecast and thus decisions be based on technical analysis be undertaken with deliberation. One is able to achieve 80% accuracy as History repeat itself and human nature behaviour can be predicted due to identifiability of their actions.

2. Technical analysis discounts everything which is visible like fundamental, political and economic information. Moreover one must remember the stock price being shown on screen discounts every piece of information. Also remember that price of a stock is determind by trends. Moreover price of a stock revolves around a key price of a stock which is determined by its support and resistance levels.

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