Technical Analysis: A Review
Technical Analysis is an Android application developed by MM Nakrani, falling under the category of Education & Reference. The application is free of cost and is designed to provide users with a methodology for forecasting the direction of prices by studying past market data, primarily price and volume. Technical Analysis helps identify trading opportunities using actions of Market Participants through charts, patterns, and indicators. One of the greatest versatile features of technical analysis is the fact that it can be applied to any asset class as long as the asset type has historical time series data.
Technical Analysis is based on a few core assumptions, including that markets discount everything, the how is more important than why, price moves in trends, and history tends to repeat itself. Technical analysts have a wide range of tools at their disposal, including moving averages, support and resistance levels, Bollinger bands, and more. These tools make understanding chart movements and identifying trends easier for technical traders.
