Tekninen analyysi PageGroup Plc (PAGE.L)

Investtech offers unique chart analyses that show trends, price patterns, support and resistance levels and RSI. A written interpretation is given for each chart, with a concrete conclusion. The analyses are available for subscribers only, and we offer three subscription levels. Select the subscription that suits your requirements:

• INVESTOR contains long and medium long term analyses, Top50 and Today’s Case.
• TRADER also includes short term analyses, sorting by trends and statistics, and the Morning Report.
• PROFESSIONAL gives access to all Investtech’s analysis tools, including Trading Opportunities, Overall Analysis and Hausse indices.

See and compare subscriptions here

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.

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.

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.

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.

• Try a free trial subscriptions with Investtech. Complete the competence program online and learn which indicators and signals have given the statistically best return.
• Register for Investtech’s daily e-mail newsletter. It is free and contains a market commentary and a recommended stock.
• Read literature about technical analysis, for example Investtech’s book.
• Be curious and patient. Demand statistical explanations and also logical and psychological explanations for analyses and recommendations.
• Think portfolio risk. Diversify your investments across at least five stocks, or even ten. Follow up weekly at least.
• Remember that stock investments are fun! Bear to take your losses and do it fast. Enjoy your winnings and don’t sell too soon.