Recommendation medium term
Platinum shows a weak development within a falling trend channel. A further negative development is indicated, and there is resistance against the ceiling of the trend channel. The future has support at 894 and resistance at 964. The future is assessed as technically slightly negative for the medium long term.
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For over 20 years our mathematicians and statisticians have developed computer systems that analyse market psychology. Investtech's analyses are independent of investments firms, banks and the stock companies, and make an important complementary addition to, or replacement for, fundamental analysis.
Investtech works on research into behavioural finance. Several research projects are supported by the Norwegian Research Council. The results are utilised in our analyses and tested with excellent results on real investments. Our research is based on principles of mathematical pattern recognition, statistical optimisation and behavioural finance.
The company’s primary goal is to identify conditions that can give investors robust excess return over time. Research results show that quantitative analyses give good results and make a useful investment decision making tool. Try a free trial of Investtech’s analyses here. Get 14 days’ complete access with no obligations!
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Investtech has worked on research into behavioural finance on the stock market, based on technical analysis theory, since the 1990s. The analyses are tested through model portfolios in six countries and they have all shown solid excess return since the start in 2001. As of January 2017, the portfolios have had an average excess return of 11.4 % per year vs the market and benchmark index. Trading Ideas are avilable for some markets for investors who want higher risk. These have also given solid excess return, but at a high risk. In addition, a wide selection of of research reports show that quantitative analysis has given good results and been a useful investment tool.
After several years of research, Investtech established the investment company Investtech Invest AS in 2009, building on Investtech’s quantitative systems. Since the start until January 2017, the company has given an average excess return to its investors of approximately 7 percentage points per year. The company’s investments are based on Investtech’s investment strategy. This supports the claim that the models also give good results in practice.
Investtech works with a number of finance market professionals and is frequently referred to by the media. The analyses are used for decision support by fund managers, banks and brokers, and as article support in the media. You can find analyses or articles citing Investtech every day. You will find us in the news media Dagens Næringsliv, Finansavisen, Hegnar, E24, Børsen, Børsen Play, Dagens Industri, SvD, Placera, Z24, and others. Other partners are ABN AMRO Bank, DNB, DI.se, Nordnet and PCM.
Use technical analysis to:
Technical analysis aims to predict future price movements. The prediction is made through understanding investors’ psychological changes and thereby predicting increasing and decreasing optimism and buy interest. The analysis method is used both on individual stocks and indices.
Through the use of good tools, technical analysis is an objective form of analysis that gives concrete suggestions for purchase or sales. The method is easy to use and does not require great understanding of each company and each stock traded.
Investtech’s research shows that this method used over time gives good statistical opportunities to beat the market.
There are two important factors to keep in mind: objectivity and long term perspective.
Objectivity and simplicity are absolutely necessary, which means that analyses and advice have to be specific and leave no room for interpretation. Technical analysis has historically been a big toolbox with a great number of indicators and models with a range of parameters. This gives the opportunity to always find almost perfect models for specific stocks or periods of time, but it will rarely work in practice. It is even worse if working without quantitative tools, i.e. by just looking at the charts, drawing trend lines and identifying support and resistance on your own. You will easily see what you want to see and what fits in with your subconscious understanding of the stock. This can easily lead you in the very wrong direction, and you may end up being ruled by your own emotional fluctuations, such as greed and fear of loss. These are the exact psychological fluctuations we will profit from by the correct and patient use of technical analysis.
A long term perspective is also key. A very important characteristic of technical analysis, of all stock analysis, is the high uncertainty. You will never be especially certain of a specific outcome. Aim to be right a little more often than wrong, or even better, to make a little more money every time you are right than what you lose every time you are wrong. Technical analysis helps you side with the more likely outcomes. If you are right 55 per cent of the time, be happy!
But of course it is the nature of the stock market that maybe 6 of the first 10 trades go wrong, or you lose compared to the market in the first year. It is easy to start doubting the methods.
A common pitfall is changing your strategy and not trusting the statistical results when failing to achieve immediate success. Obtain a solid foundation for the strategy you choose, preferably both statistical/quantitative and through psychological/financial explanations/theory and FOLLOW YOUR STRATEGY.
Technical analysis itself is enough. Some even feel it’s a disadvantage to use fundamental analysis and paying attention to news streams and forums. It is easy to start doubting technical signals and quantitative recommendations. Technical analysis is based on the principle that all relevant information is expressed through the stock price movements. Profit is made from the lags and overreactions in the market.
Nevertheless, using fundamental analysis in addition to technical analysis may make you more confident about your investments. This may help you sleep at night. Ideally you want to buy stocks both because
1. they are fundamentally cheap and
2. investor demand is increasing.
Investtech recommends analysing insider trade quantitatively, where available, and taking it as fundamental analysis. Insiders buy stocks and put their own money into their own company when they feel the company is fundamentally cheap.
We have years of thorough research and results from real investments in the market that demonstrate that disciplined use of technical analysis with Investtechs tools have given good long-term results.
Technical analysis is especially well suited for private investors. Smaller private investors can enter and exit a stock quickly and are thus well situated to profit from technical analysis. We recommend the following procedure when deciding to try technical analysis:
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here www.investtech.com/disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.