A technical indicator is a series of data points that are derived by applying a formula to the price data of a security. Price data includes any combination of the open, high, low or close over a period of time. Some indicators may use only the closing prices, while others incorporate volume and open interest into their formulas. The price data is entered into the formula and a data point is produced.
Indicators serve three broad functions: to alert, to confirm and to predict.
Indicators: Support & resistance :
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Hi,
After a significant price move, either up or down, prices will often retrace a significant portion of the original move. As prices retrace, support and resistance levels often occur at or near the Fibonacci retracement levels. These are the Fibonacci retracements levels (61.8%, 38.2%, and 23.6% ) which a stock can possibly retrace before it resumes the original directional move. The Golden Ratio is calculated by dividing a number from the Fib series by the previous number, this number approaches 1.618 as the Fib number increases and is called the Golden Ratio.