Tue, Jul 15 12:25 AM
Market players look at the existing position for their analysis in different ways. One of them is to look for levels on their technical charts and then make future predictions about the behaviour of market and stocks.
Who is a technical analyst? These people look at the past behaviour of stocks and then based on the movement predict the future. These people are known as technical analysts and for them technical levels are very important to signify future movements.
What are technical levels? Technical levels are price points at which they expect some action to take place. Movement beyond this level can mean a change in the situation.
For example if there is a technical support level then the expectation is that prices will bounce higher after touching these levels. Do the predictions work? It is not true that the technical levels will always hold or that this expected behaviour works out every time because the market is very unpredictable.
That is also the reason why technical analysts have various options that they highlight in their analysis.
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