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Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 6:05am On Mar 17, 2017 |
TECHNICAL ANALYSIS FOR BEGINNERS Good Morning fellow forumites! Today, I want to start a series on educating beginners to Technical Analysis (TA). This will only be summary, but I urge individual interested to do personal study & ask further questions for clarifications. What is TA? Technical analysis is the framework in which traders study price movement. The theory is that a person can look at historical price movements and determine the current trading conditions and potential price movement. The main reason for using TA is that, theoretically, all current market information is reflected in price. If price reflects all the information that is out there, then price action is all one would really need to make a trade. Technical analysts look for similar patterns that have formed in the past, and will form trade ideas believing that price will act the same way that it did before. Technical Analysts use chart to study historical data in order to forecast the price direction into the future. Now let's talk about chart... Types of Charts There are 3 commonly used charts. These are: 1. Line chart 2. Bar chart 3. Candlestick chart Line Charts A line chart is a line which connects one closing price to the next closing price and when strung together, it shows the general price movement over a period of time. Chart 1 below is the line chart of UCAP stock price from late December 2015 till date. The horizontal axis consist of date while the vertical axis is the price of the stock. So as at the close of market yesterday, 16/03/2017, the closing price of UCAP is 2.90NGN Bar chart A bar chart shows the opening and closing prices, as well as the highs and lows. The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price. The vertical bar itself indicates the trading range as a whole. The horizontal little line on the left side of the bar is the opening price, and the right-side horizontal little line is the closing price. Chart 2 shows a typical bar chart for a period, which can be a day/week etc. When you combine series of the bar charts together shows the price movt. Chart 3 is the chart bar of UCAP stock as shown in the line chart. Chart 3 comprises red and green bars. Colour configuration was used to easily show Chartist the relationship between the OPEN and CLOSE prices on the bar. If the open price is lower than the close price; it means price is going up, so coloured green, red is vice versa. Bar chart is more complex, and can be used to determine human behavioural pattern to the market at a particular period. NOTE: The 'D' that appears on the chart only indicates dividend paid & date. It has nothing to do with TA, but for info purpose. FOR MORE LEARNING VISIT: http://stockcharts.com/school/doku.php?id=chart_school ...to continue next week. Have a successful trading day 3 Likes 2 Shares
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Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 6:56am On Mar 17, 2017 |
IMPORTANT QUOTE "In investing, what is comfortable is rarely profitable." - Robert Arnott At times, you will have to step out of your comfort zone to realize significant gains. Know the boundaries of your comfort zone and practice stepping out of it in small doses. As much as you need to know the market, you need to know yourself too. Can you handle staying in when everyone else is jumping ship? Or getting out during the biggest rally of the century? There's no room for pride in this kind of self-analysis. The best investment strategy can turn into the worst if you don't have the stomach to see it through. 6 Likes 2 Shares |
Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 7:34am On Mar 17, 2017 |
Weaknesses of Fundamental Analysis Time Constraints Fundamental analysis may offer excellent insights, but it can be extraordinarily time-consuming. Time-consuming models often produce valuations that are contradictory to the current price prevailing on NSE. When this happens, the analyst basically claims that the whole market has got it wrong or manipulative. This is not to say that there are not such things out there, but it is quite brash to imply that the market price, and hence NSE, is wrong. 4 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 7:35am On Mar 17, 2017 |
Weaknesses of Technical Analysis Analyst Bias Just as with fundamental analysis, technical analysis is subjective and our personal biases can be reflected in the analysis. It is important to be aware of these biases when analyzing a chart. If the analyst is a perpetual bull, then a bullish bias will overshadow the analysis. On the other hand, if the analyst is a disgruntled eternal bear, then the analysis will probably have a bearish tilt. 3 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 8:34am On Mar 17, 2017 |
BullBearMkt: Mr market no send d opinion of anyone ! |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 8:36am On Mar 17, 2017 |
Nice one - I think for people who like the BUY & HOLD strategy, should consider a very long term Trend ff strategy - This may help reduce the months / years of weak performance. Example: BUY and Stay in the market when SP > 200dma, SELL & stay our of d market when SP < 200dma. - This keeps your portfolio in d market direction. - The moving average is not bias and has no opinions lol - Helps put a structure to d long term investor style - Gives you a simple trading plan and system to operate with in d market - Helps you to avoid personal bias & opinions of the market - Helps to weed out losers from your portfolio esp ''fundamental'' stocks wh are stuck in a bearish season wh can last for months or longer - You can other conditions such as minimum mkt cap of companies you wud consider - if you try this method , very few stocks would meet the condition today. Dis: please 200 is an example ohhh. Due more DD. 3 Likes 2 Shares |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 8:39am On Mar 17, 2017 |
a lot of results yet to be released ! Wont be surprised if some are released out after market closes today ! |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 9:10am On Mar 17, 2017 |
GTB - will be breaking N26 today ! |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 9:19am On Mar 17, 2017 |
UBA - very strong posture on d daily and weekly - last time SP touched N6 was in April 2015 and got rejected - another test loading loading - but still needs a close above yesterday close today - if opening price is > 5.40 #Godwin |
Re: Nigerian Stock Exchange Market Pick Alerts by stokfrick: 9:32am On Mar 17, 2017 |
fxuser: What if it opens above 5.4 and later loses and close 5‰ below 5.4 |
Re: Nigerian Stock Exchange Market Pick Alerts by BullBearMkt(m): 9:48am On Mar 17, 2017 |
1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:12am On Mar 17, 2017 |
stokfrick: that's a minor rejection , better than opening lower and closing lower ! thats a full rejection |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:13am On Mar 17, 2017 |
diamond - 4 big candle sticks back to back on vol ! - swing traders lov this set up |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:21am On Mar 17, 2017 |
stokfrick: - opened lower at 5.21 ! - we wait till to see how it will close |
Re: Nigerian Stock Exchange Market Pick Alerts by Willie2015: 10:28am On Mar 17, 2017 |
fxuser: Amen! |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:29am On Mar 17, 2017 |
fxuser: FCMB - OPened Higher at 1.25 - more bids coming in early - houston , we have clearance |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 10:33am On Mar 17, 2017 |
fxuser: Loco, your dream is near.
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Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:34am On Mar 17, 2017 |
[quote author=fxuser post=54648516] N1.20 wh was a recent resistance has now turned to support |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:34am On Mar 17, 2017 |
SWIFT Networks is having a laugh this morning |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 10:38am On Mar 17, 2017 |
fxuser:Why |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:15am On Mar 17, 2017 |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:16am On Mar 17, 2017 |
Fidelity - overhead supply a big resistance |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 11:33am On Mar 17, 2017 |
fxuser: Their Problem started since monday, i had to get NTEL as backup internet. |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 12:19pm On Mar 17, 2017 |
OBAGADAFFI: Heard Ntel is not bad ! Will chk it out Hav Smile and IPNX for back up, but wont recommend IPNX 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by afo7219: 12:44pm On Mar 17, 2017 |
Sir loco just viewing the thread n disappearing. Pls say somtin to ur fcmb faithfuls |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:36pm On Mar 17, 2017 |
I swear to GOD zenith is a one chance bank. Did godlyguy recommend zenith as well? Just take a look at GTB going higher... |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 1:45pm On Mar 17, 2017 |
Tritri: Maybe he is having a vision about it for now. His mere thoughts on an equity gives that equity laser fever... Had he recommended it, it would have been at N9.97 BY NOW and on DOUBLY-FULL OFFER.... |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 1:48pm On Mar 17, 2017 |
DeRuggedProf: |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 1:48pm On Mar 17, 2017 |
Tritri: People love GTB'S business model. They have made it clear that they will not have money to be borrowing out anyhow IN 2017 even if it offends CBN/GOVT. They are also LUCKY....(If godlyguy keeps avoiding recommending it... ) I dreamt seeing godlyguy in a joint with LOCO on his knees begging the guy to stay away from FCMB cos his LIFE SAVINGS are there INTACT/NON INSURED... 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:50pm On Mar 17, 2017 |
[quote author=fxuser post=54672231][/quote] touching 1.26 |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:52pm On Mar 17, 2017 |
DeRuggedProf: Mr Segun Agbaje is dollar long and fixed income long ! the man can't shout . NO LOANS till 2019 loll |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 1:53pm On Mar 17, 2017 |
fxuser: the buyers have taken out the doubters and now stretching leg further 1 Like |
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