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Technical analysis
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<p>In finance, technical analysis is an <a href="/facts/Analysis/heFlRrYd">analysis</a> methodology for analysing and forecasting the direction of <a href="/facts/Prices/yWQ8edfN">prices</a> through the study of past market data, primarily price and volume. As a type of <a href="/facts/Active_management/rE2RhG20">active management</a>, it stands in contradiction to much of <a href="/facts/Modern_portfolio_theory/VzQqKnuK">modern portfolio theory</a>. The efficacy of technical analysis is disputed by the <a href="/facts/Efficient-market_hypothesis/x7vvKokm">efficient-market hypothesis</a>, which states that stock market prices are essentially unpredictable, and research on whether technical analysis offers any benefit has produced mixed results. It is distinguished from <a href="/facts/Fundamental_analysis/Pvp6KdTt">fundamental analysis</a>, which considers a company's financial statements, health, and the overall state of the market and economy. </p>