Charting Is a Type of Technical Analysis

question 31

Essay

Charting is a type of technical analysis.Explain the process in relation to forecasting share price movements.

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Definitions:

Dummy Variable

A variable used in regression analysis to represent subgroups of the sample in your study.

Nominal Independent Variable

A variable used in statistical analysis that represents categories without a natural order or ranking.

Indicator Variables

Binary variables that represent presence (1) or absence (0) of a characteristic.

Multiple Regression Model

A statistical procedure involving multiple predictor variables to calculate the outcome of a target variable.