Technical Analysis and Stock Market Profits by Richard Schabacker

By Richard Schabacker

Technical research and inventory marketplace gains, is a invaluable addition to any technical analyst's own library or any industry library. His ''pioneering research'' represents one of many best works ever produced on technical research, and this booklet continues to be an instance of the top order of analytical caliber and incisive buying and selling knowledge. initially devised as a realistic direction for traders, it truly is as alive, important and tutorial this day because the day it used to be written. It prepared the ground for Robert Edwards and John Magee's best-selling Technical research of inventory traits - a debt that is stated of their foreword: 'Part One is predicated largely at the pioneer researches and writings of the overdue Richard Schabacker.' Schabacker provides technical research as a wholly geared up topic and comprehensively lays out a number of the vital styles, formations, developments, help and resistance components, and linked assisting technical aspect. He provides components that may be with a bit of luck trusted, and offers equivalent consciousness to the blemishes and weaknesses which could disappointed the easiest of analytical forecasts. elements which traders may do good to take in and observe while project the attention-grabbing video game of expense, time and quantity research.

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358-17 most practical of the special sheets prepared for charting security prices; this comes in the standard 81/2′′ × 11′′ size, punched for insertion in a ring binder, and has its horizontal scale divided in sixths to represent the six days of the normal business week, and the vertical scale in eighths to conform with the standard eighth of a point price differential in trading. Their No. 358-17L has the same scaling but measures 11′′ × 161/2′′. The Keuffel & Esser Company publishes a variety of other styles of chart paper and binders to fit which the student may buy from them direct if he wishes, and which are described in their catalog of co-ordinate papers obtainable on request from their own stores in New York or Chicago, or from their general office at Hoboken, New Jersey.

In detail, this will be the greatest part of our future study, but it is not too early to call attention at this time to a few generalizations about the analysis of such reversals. It is unusual for the price movement of any stock or the general market to remain stationary for long intervals. Prices are usually going places and doing things. They are either going down or up, and are in process of pursuing a trend – generally an – 35 – STUDY II irregular trend, but a trend none the less. Once a major trend is established it must be assumed, and quite logically, that such trend will continue until it is reversed.

The daily paper furnishes the necessary data – high, low, close and volume of sales. Plot the high, plot the low, and join the two points with a vertical line to give the day’s range. The closing price is an important part of any complete daily stock chart; it is noted by a short, fine, horizontal line, extending across the vertical range line, just far enough to be noted. – 16 – TECHNICAL APPROACH TO STOCK TRADING Both opening and closing prices may, of course, be plotted if desired but we consider practical only the plotting of closing prices.

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