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Charting and Analysis
Charts are the foundation of
technical analysis.
Line Charts
Line charts are the most
simplistic charts and the easiest to read. They plot the closing price for the
time period you specify. Figure 1 displays a line chart using a 3 min time
period.
Figure 1
Bar Charts
Bar charts display a series of
bars for the time period specified. The bar is comprised of 4 different types of
data:
1. Open- Opening price of the issue at the beginning of the bar interval
2. High- The highest price the issue reached during the bar interval
3. Low- The lowest price the issue reached during the bar interval.
4. Close- The closing price of the issue at the end of the bar interval.
Figure 1.1 displays a 3 min bar chart.
Figure 1.1
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