Technical analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume.
Technical analysis focus on patterns of price movements, trading signals and various other analytical charting tools to evaluate a security’s strength or weakness.
Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements.
Technical analysis is applicable to stocks, indices, commodities, futures or any tradable instrument where the price is influenced by the forces of supply and demand.
Price data (or as John Murphy calls it, “market action”) refers to any combination of the open, high, low, close, volume, or open interest for a given security over a specific timeframe.