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Adding two consecutive number forms Fibonacci Series.Dividing one with successive number will give us Golden Mean.
Fibonacci retracement uses horizontal lines to indicate support and resistance. These are created by drawing the trend line and dividing them by fibonacci ratios.
A technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset. It is calculated using the following formula:
RSI = 100 – 100/(1 + RS*)
*Where RS = Average of x days’ up closes / Average of x days’ down closes.
RSI ranges form 0-100.
RSI>70-Over bought
RSI<30-over Sold.
Moving average is mathematical value of the historical movement of stock. It depends on the Technical Analyst to consider the no of days that should take in account. Mostly fundamentally stock companies will trade above simple moving average.
We can not predict anything using this value, because if at all bad companies trades below moving average, some news may trigger this to trade above (Ex. KF) and will come down.
But we can get some additional confirmation using this value. Above- Bullish, Below-Bearish
Technical indicators are tool which available ready to use to confirm whether the technical analysis result matches or not.
When we do TA, we may need some indicators and witnesses to identify the trend.
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