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There’s a great debate in the financial industry about which type of analysis produces the best results for traders - is it better to be a technical trader or to rely on the fundamentals?
Is there a common ground between the two? We’ve all heard the phrase All roads lead to Rome. In this article we’ll explore whether this applies to the financial markets.
Graham Spooner, investment research analyst at the Share Centre, picks three top shares among the most popular purchases by equities clients in the last seven days.
The FTSE 100 (UKX) failed to make a new low on Wednesday below 6654.5, though it did dip below that level outside official trading hours.
The Elliott wave pattern (see chart) is recorded between 8am and 4.30pm which comprise the normal market hours, which means there is a chance the decline ended at 6654.5 as per the alternate wave count.
Generally, when you’re making an investment, you know that you are taking a risk. If you buy a stock, for instance, there’s always the possibility that the stock price will go down – and you will end up losing money.
Similarly, if you short a stock, you’re going to lose money if the stock price goes up. However, there are some cases where you may be able to make a risk-free trade with guaranteed profits.
One of the most appealing price patterns to novice traders is undoubtedly the range pattern; a sideways, trendless price movement confined in two horizontal boundaries. Bouncing from the lower horizontal line and rebounding from the upper horizontal line looks so predictable that even experienced traders find it hard to resist.
As long as a prolonged sideways price movement is in place, traders may enjoy consistent potential profits by going long on the support area and going short at the resistance.
Thu, 1st Jan - * (ShareCast News) - Petrofac got a boost on Wednesday as Goldman Sachs upgraded the stock to 'buy' from 'neutral' and lifted the price target to 1,066p from 912p.