ABSTRACT
Technical analysts believe that stock markets have a dynamic of their own, independent of outside economic forces.Technical analysis is the study of internal stock market information.Any relevant outside information is seen as being embodied in stock market data so that there is no need to look for information outside the market.Technical analysts study the market itself, not the external factors that might be reflected in the market prices and volumes.The information produced by the stock market, particularly in relation to prices and trading volumes, is what technical analysis is concerned with. Whereas fundamental analysis (such as dividend discount models and ratio analysis) uses economic data that is usually obtained from sources other than the stock market, technical analysis uses data from the stock market itself.
