Why Technical Analysis?

Share prices are a function of Supply and Demand.  The supply and/or demand for any Company's shares are themselves the sum of every piece of fact, fiction or otherwise that all investors know, suspect or hope, about that Company and it's prospects at any point in time. 

While there are some very competent studies of the driving forces of Supply and Demand, it is, in our view essentially a subjective process.

Technical Analysis is based on the premise that Price Discounts Everything.  It follows that the disciplined study of price action automatically accounts for all of the factors that are affecting the supply and demand for a stock, without the need to know and understand all of the fundamental information which would otherwise be required to make a fully informed and potentially profitable investment decision.