Episode #7 - Tutorial in Technical Analysis by Alan Hull August 09, 2023
This is another article in a series of education posts from Alan Hull. Alan Hull is a renowned technical analyst within the Australian Market. He has educated thousands of investors on how to apply technical analysis within their overall strategy. In this special series, Alan has agreed to share his Technical Analysis tutorials with Stockopedia members. He has committed to provide one ever three/four weeks. To learn more about Alan you can read his profile here. Or visit his website alanhull.com.au
To re-acquaint yourself with Alan's prior postings, please go to “Discuss” in the left hand column and selecting “Aus/NZBlogs” (see below). Scroll down and you will find a contribution one to every three/four weeks. All graphs are for education purposes only and are deliberately out of date for that reason.
Other important patternsLine of best fit
If a group of traders and investors believed $7.50 is the true value for a share then it is logical to assume that they would be buyers if the price fell below $7.50. Conversely, if the price rose above $7.50 they would become sellers. This causes the share price to return to $7.50 whenever it tries to move away...