Chart patterns have been used in the financial markets for over 100 years. In general, they reflect group behavior in the stock markets and provide insight on the direction the price is expected to take. The popularity of using these patterns to forecast price movements has been growing in recent years, partly due to the increase in home computers and the availability of stock market charting programs. The Internet has also contributed to increased use of this analysis technique.
What value does the Trending123.com pattern scan powered by Recognia bring to chart pattern identification?
Like many investment disciplines, chart pattern identification and analysis is a manual activity that has long been considered more of an art than science. A chart is drawn, either by hand or on a computer screen. The analyst looks at the chart over different price scales and using different time periods to attempt to visually determine if any of the 50 or so known chart patterns are forming. If the analyst does not see any patterns on the chart they continue on to the next chart.
Tools exist to help the analyst draw the chart but there have not been sufficient tools that automatically identify and classify the chart patterns. Even the most experienced investment professional can only track 50-75 securities a day using this manually-intensive technique. Recognia currently analyses more than 16,000 securities each day from world stock exchanges and is expanding this capability to include additional markets around the world. This allows investment professionals to become more productive, and facilitates the introduction of retail investors to the field.
JL,
Just want to say thanks for the great call on the drys option. Made some good gains on it and if everybody evenly distributed on their contracts, will take care the few that will not work. Thanks again for the added options portfolio and keep it up!!!!!!!!
From a fairly new subscriber
jaxricane
John,
Thanks again for the options....made money. BRCM, NVDA, and DRYS came in great. I am now ahead and gained back my losses . Thank you so much.
Atti2dok
