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Using Technical and Fundamental Analysis in Security Trading

Using Technical and Fundamental Analysis in Security Trading. Ivaylo Penev, Portfolio Manager, ELANA Fund Management. Fundamental Analysis. What is fundamental analysis?.

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Using Technical and Fundamental Analysis in Security Trading

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  1. Using Technical and Fundamental Analysis in Security Trading Ivaylo Penev, Portfolio Manager, ELANA Fund Management

  2. Fundamental Analysis What is fundamental analysis? Method of evaluating securities by measuring their intrinsic value using economic, financial and other qualitative and quantitative data.

  3. Fundamental Analysis Goal of fundamental analysis To compute fair value of a security and to compare it with the current market value of that security in order to justify whether it is overvalued, undervalued or fairly priced.

  4. Fundamental Analysis Product of fundamental analysis • Ratings • Recommendations • Price Targets

  5. Fundamental Analysis Ratings of a security

  6. Fundamental Analysis Recommendations • Buy/outperform/accumulate • Hold/market perform • Sell/underperform/decrease

  7. Fundamental Analysis Price target A fair price of a security calculated by the analyst using different techniques, often given as a supplement to a recommendation.

  8. Fundamental Analysis Sources of data for fundamental analysis • Macroeconomic indicators • Industry analysis and trends • Financial statements • Supplemental sources

  9. Fundamental Analysis Macroeconomic indicators

  10. Fundamental Analysis Industry analysis

  11. Fundamental Analysis Financial statement analysis

  12. Fundamental Analysis Supplemental sources • Conference calls • Footnotes in financial reports • Management analysis and discussions • Suppliers, distributors, competition

  13. Technical Analysis What is technical analysis? Method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Market action is defined by: • Price action • Volume • Open Interest

  14. Technical Analysis Price action – price dynamics during a period Volume – the amount of shares/contracts traded for a period Open Interest – the number of options/futures contracts that are not closed or delivered on a particular day

  15. Technical Analysis Premises of technical analysis • Price movements represent all the information available • Prices move in trends • History repeats itself

  16. Technical Analysis Studying the price movements- charts • Line charts • Bar charts • Candlestick charts • Dot charts • Point and figure charts

  17. Technical Analysis Line chart

  18. Technical Analysis Bar chart

  19. Technical Analysis Candlestick chart

  20. Technical Analysis Candlestick

  21. Technical Analysis Doji

  22. Technical Analysis Reversal patterns – Doji

  23. Technical Analysis Engulfing

  24. Technical Analysis Reversal patterns – Engulfing

  25. Technical Analysis Evening and morning stars

  26. Technical Analysis Reversal patterns – Evening star

  27. Technical Analysis Moving Average

  28. Technical Analysis Fibonacci Retracements

  29. Technical Analysis Bollinger Bands

  30. Technical Analysis Trendline

  31. Technical Analysis Trend channel

  32. Technical Analysis Head and shoulders

  33. Technical Analysis Thank you for your attention

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