1. Introduction to Technical Analysis Karel De Bie Market Strategist BNP Paribas Fortis Global Markets FI Research. Blanmont, May 18, 2011
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3. TA vs FA Michigan Confidence Indicator New Home Sales Durable Goods Orders Jobless Claims ISM Manufacturng Change in Nonfarm Payrolls Unemplyment Rate Trade Balance CPI P(fa) P(fa)>P=> buy P(fa)<P=> sell … FA A fundamental analyst only analyzes a handful of stocks or currencies Geopolitical Situation TA Basics
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6. Loss of information : per period just the close (no OHL), the H&L are important when drawing resistance/support lines The chart: line chart
22. Basic Formations: Trend Line Simplest tool within TA Connects the lows in an uptrend Below every 2 bottoms, it is possible to fine such a line, but it needs 3 points to be a valid one = support line
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24. Uptrend Support Line 3 & 4: buying opportunities 5: selling opportunity pull-back possible: previous support line becomes resistance
91. Long if closing price is above MA (a 25 period simple MA), short if closing price is below MA. Bel20, weekly bars Example of using the MA
92. Long if closing price is above MA (a 25 period simple MA), short if closing price is below MA. Bel20, daily bars Example of using the MA
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94. 100 days MA MA: great results when the market is in a clear up- or downtrend Sideways trading: you lose money when trading the MA signals
95. 100 days MA 50 days MA 20 days MA Which MA to use? Afterwards, it is always clear…
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97. 12 periods 26 periods the “0” level MACD: comparing 2 moving averages MACD = Exp MA of 12 periods – Exp MA of 26 periods MACD: the white line Crossing below zero: sell signal Crossing above zero: buy signal
Market capitalization has increased from EUR 2.6 billion in 1990 to EUR 20 billion at 30 June 2003. Fortis ranks among the 20 largest financial institutions in Europe. First bank in Belgium, fourth bank in the Netherlands. First insurer in the Benelux countries, second insurer via intermediaries in the Netherlands. In the United States Fortis has become number 2 in the field of &quot;Preneed&quot;, in other words funeral insurance. The acquisition of the voluntary dental insurance division of Protective Life in 2001 makes Fortis number one in the United States in this specific market. Fortis is very successful in the bancassurance market. Bancassurance is the sale of insurance products via the banking channel and banking products via the insurance channel. The joint venture of Maybank in 2001 underscores Fortis' intention to further expand its expertise in the field of bancassurance in Asia.
Market capitalization has increased from EUR 2.6 billion in 1990 to EUR 20 billion at 30 June 2003. Fortis ranks among the 20 largest financial institutions in Europe. First bank in Belgium, fourth bank in the Netherlands. First insurer in the Benelux countries, second insurer via intermediaries in the Netherlands. In the United States Fortis has become number 2 in the field of &quot;Preneed&quot;, in other words funeral insurance. The acquisition of the voluntary dental insurance division of Protective Life in 2001 makes Fortis number one in the United States in this specific market. Fortis is very successful in the bancassurance market. Bancassurance is the sale of insurance products via the banking channel and banking products via the insurance channel. The joint venture of Maybank in 2001 underscores Fortis' intention to further expand its expertise in the field of bancassurance in Asia.
Market capitalization has increased from EUR 2.6 billion in 1990 to EUR 20 billion at 30 June 2003. Fortis ranks among the 20 largest financial institutions in Europe. First bank in Belgium, fourth bank in the Netherlands. First insurer in the Benelux countries, second insurer via intermediaries in the Netherlands. In the United States Fortis has become number 2 in the field of &quot;Preneed&quot;, in other words funeral insurance. The acquisition of the voluntary dental insurance division of Protective Life in 2001 makes Fortis number one in the United States in this specific market. Fortis is very successful in the bancassurance market. Bancassurance is the sale of insurance products via the banking channel and banking products via the insurance channel. The joint venture of Maybank in 2001 underscores Fortis' intention to further expand its expertise in the field of bancassurance in Asia.
Market capitalization has increased from EUR 2.6 billion in 1990 to EUR 20 billion at 30 June 2003. Fortis ranks among the 20 largest financial institutions in Europe. First bank in Belgium, fourth bank in the Netherlands. First insurer in the Benelux countries, second insurer via intermediaries in the Netherlands. In the United States Fortis has become number 2 in the field of &quot;Preneed&quot;, in other words funeral insurance. The acquisition of the voluntary dental insurance division of Protective Life in 2001 makes Fortis number one in the United States in this specific market. Fortis is very successful in the bancassurance market. Bancassurance is the sale of insurance products via the banking channel and banking products via the insurance channel. The joint venture of Maybank in 2001 underscores Fortis' intention to further expand its expertise in the field of bancassurance in Asia.
Market capitalization has increased from EUR 2.6 billion in 1990 to EUR 20 billion at 30 June 2003. Fortis ranks among the 20 largest financial institutions in Europe. First bank in Belgium, fourth bank in the Netherlands. First insurer in the Benelux countries, second insurer via intermediaries in the Netherlands. In the United States Fortis has become number 2 in the field of &quot;Preneed&quot;, in other words funeral insurance. The acquisition of the voluntary dental insurance division of Protective Life in 2001 makes Fortis number one in the United States in this specific market. Fortis is very successful in the bancassurance market. Bancassurance is the sale of insurance products via the banking channel and banking products via the insurance channel. The joint venture of Maybank in 2001 underscores Fortis' intention to further expand its expertise in the field of bancassurance in Asia.
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