TexHnyeckun aHasinu3 Kypc ana Ha4nHarolyx Cepua: Reuters 48 @unaHCucToB Nepesog c anrnniicKoro 8-e nsnanne Admiral Markets Mockea 2011 HingurliassNpexge vem sit naunere Tnana 1. Beegenne ro raKoe alianns puinka?.. Tocrpoenne rpapmnos. Teopua floy— sapoxnenne ‘Texieckoro ananuaa. Pesto Kowrponuin ‘0630p npotigennoro marepuana.. Aononnreasnsse ucrounnnn nxdpopmaun (Orsers! wa kowrponeiie Bonpecs jonpece, Tnapa 2. Bunbi rpacbuKos Baenenne.. Tunenuste rpabunu Tpadmnn 8 sune »Gapose. sfinovicKne ceown Foadwni Tuna «KpecrHKi-HOnHKMs Tpadmnn rucrorpame o6nema Tunefinute rpaguxn orxpetrore nrepeca. Ynpansenms no nocrpoenmo rpaduxor Peatone.. Konrponsnute sonpoce (0620p npoiaonnoro maropuana.. ononnnressnsie ucrownnnn widopmaunh Orserss wa xowrponunsie Bonpecs Tnapa 3. Knaccnecknit ananus rpaguKos Baenenne.. ‘Amnnn Tpenaa.. Monenn npononwenna/Konconaaynn Monenn passopora, TMHMM noAREDKKH M conpoTMBAeHHA Cxonsanuine cpennne. OrHocuTenbHan adepexrusHocte.. 90 Paspuist.. Tpumepss rpapunos. Peatome.. ‘Konrponsnute eonpoce (0620p npoiaenwore marepxana.. ‘ononnnrensnsie uerounnn wxdopmaun Orsersi na Kowrponsneie sonpcce © iextstccini aan: Kype ann nawnnaroux Tnapa 4. Muquxatopt Baenenne. 103 Majexc omocurenbHoi cubs W Croxacrmveckne ocunnnaropet 108. Cxompenne/pacxonpenne ‘cxonbanuinx cpeaHnx (MACD) 412 Tpumeps: rpagunos. 116 119 120 121 ‘0630p nponjennoro marepmana. Aononunrensusie ncrovnnn wnopmaunn.. Orserw na Konrponsnsie sonpocs Tnapa 5. Bonnet, uncnam uMKnbt 125 Baenenne. Teopus sons Snnworra snena OM6oHANYA 130 Tpacpmnu Tanna . 134 Ynpannenns no noerpoenitio rpaduxon, 138 Pesiome. 139 Kowrpenaanie sonpocts 139 14, 142 (0630p npotqennoro marepmana. Aononunrensusie ncrovnnn wnopmaunn.. Orserw na Konrponsnsie sonpocs Tnapa 6. OAMH AeHb M3 KHSHH ‘TexHMecKoro aHanHTHKa 47 Baenenne. Bor 4ro rosopsr. PaniHee Havano.. Pesiome. Alononanrensnsie wCrovHnKo HHOOPMAUNM.. 149 154 158. Aurno-pyccknit rnoccapnii TepmaHos. No Textwyeckomy anannsy 161 Cnucox ponqoseix Gupm mup: am. 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Euye AHO OF exruaHioe cBojicTno puitika (KoTOpoe MOXKeT OhtTh aK HOAC3HIBIM, TaK It BPeAHLIM — B 3aRHICHMOCTIE Of BpeMertH) 2aKMOUAeTCH B TOM, YTO AAS TOTO, ‘uro6ni orpearuponar® Ha pasunuly yen By npeuiied croumoctu, ety rpebyercs Bpems, TexHuyeckni aHanns Teximueckuil atlanta Moxuio onpegenttTa CreAyIO- un oGpa20¥: Texsumeckuil auaaua — mevoa upea- ckasaniat HsMeweHHs YEH 1 GyAy- yi TpeHAoe pula nyTeM HayueHust rpabukos Hcropuyeckux usmenenuti Ha phinke, yuNTEIBaIOMUX Her Gysar, OFLeNM CAPAOK H, ECAH BOSMOXHO, OGLeM OTKPMTEIX nos. Textuneckuit aaaus uccaeayer To, w10 yoxe cAYUHAGCE Ha PLIKe, a He To, HPO AOANKHHO CAY- unrtaca, Teximueckuil atteaurrink Hayuaer ABLDKe- Hue eH OGBeMOB CAeAOK C HeHHBIMH Gywarantit 10 9TuN Aan CrposT rpadbuKu, ocHOBAHHE a elicrousx yuacrakon paattka, nu rpacpakn — ero raaniuatl muerpysen. 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HingurliassNipniynnet, nexaune B ocHoBe Texnneckoro aHanusa Texnuecknit anaan3 ocnonumaercs Ha Tpex mpnsitax: Texnnuecknit w @yHaamentanbitiit ananus 8 cpasHeHHn Boroit taGanye npuBeaents raapuite pasarans MemkAy ABYMAI MeTOAAMH antaAH3a’ a. ewnenne [970 anew, «ro veRjuian Yewa — aro poska Jorpanenne acex wanecTux puny yorroiaaer ani, cnocoBHK noBnRTe Ha 3TOr ace Pemox. K wins omocsten cnpoc RpennoKenwe, nonimasocine axrops w npnctpacran polka, Texnuseciath akanimnx pacemar- puoacr Tonxo pBHNoHNE YoNIs, ae pws Tix ABwOMeHA 2. Monenn eicrovrensno leyuiecrayer Texnisecrat ananne wenonsayereR ans pacnosnasanis onpenenenisx Moneneh nowegenua pena, Ana mmorux rani monenen cyutscrsyer Beicoxan sepomtHocts onpeae- Jnenoro peaynerara. Kpome Toro, naBecrisie momen noBropmoren Ha Perynspioi ocwiowe [3 Meropmn nosroprercn [Monenw sbimenmoten n Knaccr mypyorea na nporsxennn Gonee 100 ner. 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Texnmuecknii ananns: Kype ana HayMHaioux 6 DinguriinseCuna u cnaGocth TexHu4eckoro aHanusa Caeayromast TaGanna cymmupyer aammte 10 CCHABHBIN 1 cAaGuIM CToponan TeXTMeCKOrO aKa~ Cunuwuie cTopones Cha6uie ctopowet = B rexwnvesxow ananiae ecto ‘anemenr eyévexrusHoct, nosromy axe onsirisin aamii Mower oxaaatkcn w exryauie, * Texwneci avant omer Sire ncnonssoean ars umpoxoro xpyra micrpywexToe orga npowsofiner pacxanAetne Inpaxtuvecin va |peansiocrso. HeonsirHomy 060m pene. annrany even nerno yonnere 8 + agnor woryr | pesynsrarax ananmsa To, 10 om Jue ncnonssosanes | XO¥er, a He To, s70 npowexomN Ka Jana ananwsa sa |caMoM gene. 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Jcexropam pono. | « Texnnvecni ananus rosopir & + Ocnonsuse pany: |eronenn sepommoern Toro, ro nei rexwitieckoro | weworopoe co6sirve npowsoiner, Jananna nerko | wo we yreepyaaer, «0 ovo yeoowrs, a ero mero- | npowsohjer Henpenteno as paspasorarst | « Compentennbin rextieckiit exoan H3 70r0, +70 | anna ocHouan va CRON Aeiictana npovexonst| weromanesesent 9 poanssiom pane, | rarycravecdhk KOHUENUIRK = Brecon |kounsorepre aporpanit ayerer rowse | eywecrneno ymenbunnn ranveie 8 pexome — | rpyanocra, eansanne © Peansnioro spesienn | pacyeranm, 40 9T0 He onervaeT wc Hesonsuioh | nonimanne Toro, KaK npaBHrsHo pencprexoi Jeocrn 27m pacvers, + Ara teximeckoro axaniaa wianeno Bano, «TO6ss sepopsauys Guna rosa epoespewenia Hecworpa iacnon caaSute croponts, rexnmueckiti aniaana aapexomenaonaa ce6a KavecTHe OAMOrO 3 HaAeOKHBIX HHICTPYMeHTOB i HCHIOABSYeTCH BCe oe Texnnyecknit ananns: Kypc ana HayMHarouyAx Goabimus wucaom y4aCTHHKOS pHistka 110 CAeay10- nun pistes + Pactymjaa ynepenioct paiiika B yemexax ‘TeX, KTO HCOALYeT TeXHUECKHit AHAAHS. + Pactymjas norpeGuocr B KparkocpouHoit Toprowae, AAs KoTOpoit (byHaamenraabitiit aliania ¢ ero peako DGHOBASeMEIMI HCTON- UKM AAHHLIX SaBeAOMO He TOAXOAIT + Bospacraioue BosoxxHOCTH HepcoHan’ HbIX KOMITBIOTepOB K HX PacTy ast ACTY: HOCTH B peayAbTaTe CHIDKeHHS! eH. + Yaeanunpaiomyeecs nonmManne Tor, sro cbynaawenraabiai antaans ne Moxker Guirh Aocratouo TOAesHMM B ROMpoce BuGopa MoNelTa Conepuients cAeAOK, ocTaBAAs ITY BOSMOXKHOCTE TEXHIECKOMY alTaAnay. 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REUTERS Tipexxae tew ABHraTica Aaxbinte B pac- caorpesii pasasiiisnx Teopait, BEIT IIHTe MeTOAHKH TeXHHYecKOTO aHiaAH- a H HX MpHNeHEHHe K CeKTOPY PHIHKa, KoTopstii Bac ocoGeHHO HETepecyer. Hampu- ep, ECAH BEI HHITepecyeTech MperxAe BCeTO M10- AyMKOit H Mponaeit aKMUi, KAKHe MeTOASI BAM TOAXOAAT Gonee BETO? ITO MoKeT GIT OveHD TOAesHBIM B AAABHeMMe!t paGoTe ¢ KEHTOI PlanstToctpoenue rpadukos Sra KuHra HanHcana AAs TOTO, STOGH AAT Bam Mpeacrasaenme o nprtinmax H MeToAAx Text ‘yeckoro anlannsa Ht paawTiBIx HHICTPYMeHTAX, AO~ Cryin Teximr4eckoMy alannTHKy. Tlepea re kak npuicrynirrs x naysertno Goce AeTAXBITAX actleKTOR TeXIHEYeCKOTO aTTaATIBa, CAe~ aaitre cxeaytomtee ynpaxxnente. Tlocrpoenne rpadwka: Yopaxnenne 1 Aare 8 aGame noKasEtBator eH ‘saKphirist wa axiuit Reuters sa mrH- AccATHAReDIAEH MePHOA, HaGMOAABMIFICH B Ha rane 1996 ropa. Bee, 410 HY:xHO cAeAaTH, — 970 OTMETHTE Ha, epraxanbioit oom (crp. 19) nesy saxpErrH Ha, apxabili ex’. 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Tlepauie yepeartentiie niaeKcia apes oT pemertn nyGanxonannct Gionerenest Customer's Afternoon Letter kowann Daw — npequuiecraen- nuxom The Wall Street Journal, xotopaa Havana usqanarica c 1889 roaa, TlosuMto unantconoit axypnianntcrii, ¢ 1885 no 1891 roa Aoy Guta wacttoM Hito-VlopreKoit bomaonoit Gupren. Aoy mpogonan nsysarh ae inute pumka mx 1896 roay puma, ro ero nepal iniaeKe orpaxaer cocromiie ToABKO HeGoAtAMDit acti akoHOMUKH. Aoy MpeAOAOKHA, 470 ecAHt HcHoALIOBATL ABa He CHALZAMIIEIX MexAY COBO! Toasaroas cocroanits 3KoHOMIKH, 70 OW GyAyT cuirmaansnposatt 0 \loGuax sutauirreabinx Tpen- ax ta pustke, Takin oGpasow, O11 BBA MpOMBIAI- AeHHBHT HHAEKC, OcHoBaNBIT Ha cpeanelt Nese saxpuirvia aKcurit 12 mpostautsenmtx Konan, ccarrranimixca Toraa HaHGoaee navkatAsi Tipomsumrcnmasit muraene DJ Gin nepaire onyGankonar 26 Max 1696 roja 8 The Wall Street Journal. Buecte c exe3HOAOPORKILIN HHIAeKCOM (reneps nasuBaeMtin xpastcnoprinaM) 31H oka textsccini ananns: Kype ann nawnnarounx aareatt ¢ Tex Hop HyGAuKyIorea B KaXKAOM BEIY- exe The Wall Street Journal. B 1928 roay weno Kowitanit Geo yaeanueno ¢ 12,0 30 # ocraeres Takum nomtune. C camoro Havana HHO CeroAHALIl ACHE B MHAeKCE HEHa- Menno upucyrcrsyer General Electric Company, 4 COcTaB ApyTHX KOMNAHNMii, BKAIOVEHHEIX B MH AeKC, BpeMs! OF BpeMeHH MeHsACs, wroGEI OTpa~ KATH H3MeHEHHs B IKOHONMKE H COXPAHLSITE ANCK- aruuiil oxnar puna, ‘Vingexc mpi saxpirrim Topron 8 neppisit Aeith nyGankanun cocrasia 40,04. Sto suavenue nour nopropioct B 1932 roay— B paarap aenpeccu, Ormerka s 1000 Guna aocturnyra 8 1972 roay, a Aas Toro wroGEt HoAHstTEcs C 4000 Ao Gone went 5500 (1996 r.), norpeGosanoct Bcero HeCKOALKO aer. 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REUTERS Aoy paccusrtisaa, «10 ero uiaeKces Gyayr «Ga- poMerpastit puitikay, To ech BAIGOp HOKYHKI MAHL HpOA@KH OTACABEIX AKU OCTABAACH HEAHKOM » pykax uiinecropos, Maniavaantio HiaeKct He 10- KyHAAMCH H He MPONABAAMCH, KAK AKHI, HO C Ha axa 1980-x roqos dosBHLce dysiovepcHise KOH npaxrt Ha uuaeKcut. B 1982 roay UuKarcKas To- napiias Oupxka nuunycTUAA dhaiouepens 1a HHACKE Standard & Poor's 500, a5 1984 roay Aonaoucxast Gupzka puanyeruaa dpbiovepcnt 1 oNMHOHEL Ha 1 aexe FTSE 100, Xora reopina Aoy uncer paa orpattvesti, ona ‘anasiercs OcHOROIE sHHOTHX MeTOAOB 7eXHHUECKOTO ananuisa, OMICaHHUX aanee & 9TOIi Kuure. Texsnvectonl ananns: Kypc ana waxmnaounx ED) DinguriinsePestome Kontponbubie Bonpocei Ge) 1: sascpuman nsysenne neproro pas- AeAa KITH H TeMTept AOAIKHBL SHAT CAC~ aytomee: 1. Onpegeattte, Kaxne 13 HiDKenpHBeaeNHtEIx «pas o npuanynax TeXHHYeCKOrO aHAAH3a Bep- bre, a KaKne — Her. + pasaHuna Mexkay TeXHHTVeCKHD H ¢byHAAMen- ‘TaAbHBIM aHaAH30%; + ocHopia i npynniuima Textaeckoro arlannsa; . Bepno |Hesepno| + mpusnuner mocrpoeHus Auelioro rpa~ dua; A. Tania teas — nepxo cmporsosuponar, ¥r0 cay- ‘sTTCA Ha pHIHKe B OYAyIIEN, + mpsinums reop Aoy — ocHonit conpe- B. B nozeaenmn puiuka cyiye- YroGs1 npoReputs, KaK BM MOHAN 9TOF pea- poner! ps CTBYHOT MOAeAH, AeA, DLINOAHTe KparKusi- Teer. SaKpemET HayIeHt bill MarepHaa BaM TAKE HOMOXKeT Hpeararae- Matil o620p. C. Heropus nontopsercs. D, Aesteasocr paiika HH- ero He yunTEtBaer. 2. VictionnaysTeopaio Avy, aaitre kparkoe Onn aisle TOMY, #70 MPOMCXOAHT Ha CTaAHAX KPYTI- HOTO TPeHAA, OTMEYeHHBIX Ha rpacbuKe tadppa Mn 16. ® Cx, omsemu na emp. 33 © textsccini ananns: Kype ann nawnnarounx Hingurliassei CU Pitts ‘eenueHe o1ovoonHHxoL onHolMOdES —Aotf wndooy ‘eooderan won wmdoar oreaidoy + BeMWene oJHaUeLNOWeHHKD M OJoNONMHXOL oMNOHBEdD eyendeLew OJOHHetYOdU doco Texsnvectonl ananns: Kype ana Hasmnaounx EQ) SE Joi gross »Aononnutenbupie ucTOHHMKH vHdopmaynn ‘Teximuecait anaaua, Foams xype (Xx. Learep/Tlep. ¢ ara, Axbmiia TTaGanuiep. 20017 ISBN 5-89664-024-1 ‘SunyHKAONeAHA TeXHIYeCKHX HHAMKATOpOR PAINKA P. Konou, T. Meitepe, «Antimima», 2000r. ISBN 5-89684-008. Technical Analysis of the Futures Markets John J. Murphy, New York Institute of Finance, 1986 ISBN 0 13 898008 X ‘Technical Analysis Explained Martin Pring, McGraw-Hill, 1991 ISBN 0.0705 1042.3 ‘The New Commodity Trading Systems and Methods Perry Kaufman, J. Wiley & Sons, 1987 ISBN 0 4718 75790 ‘Technical Analysis From A —Z ‘Seven Achelis, Probus publishing Co., 1995 ISBN 1 55738 8164 ‘Timing the Market — How to Profit in Bull and Bear Markets with Technical Analysis Curtis M, Arnold, Probus Publishing Co., Revised Edition, 1993 ISBN 1 55738 1967 Charters on Charting — How to Improve Your Stock-market Decision Making David Charters, Rushmere Wynne, 1995 ISBN 0 948035218 ‘The Futures Game Richard J. Teweles and Frank J. Jones, McGraw-Hill Book Company, Second Edition ISBN 0 07 063734 2 ‘Schwager on Futures — Fundamental Analysis Jack D. Schwager, J. Wiley & Sons, 1995 ISBN 047 1020567 ‘The ABCs of Stock Speculation S.A. Nelson, 1903. Reprinted by Fraser Publishing Company, 1981 ISBN 0 87034 0549 ‘The Stock Market Barometer William P. Hamilton, Harper & Brothers, 19: by Fraser Publishing Company, 1993, ISBN 087034 1111 Reprinted © textccini ananns: kype ann nawnnarounx ‘The Dow Theory Robert Rhea, Barron's, 1932. Reprinted by Fraser Publishing Company, 1993 ISBN 0.87034 1103 ‘Technical Analysis of Stock Trends Robert D. Edwards and John F. Magee Inc., 1948 and, subsequent editions. Seventh Edition, 1997 ISBN 0 814403 735 Technical Analysis of Stocks and Commodities Taking Stock of Commodity Trading Methods by B. Venitits Vol. 1:6 (129-132), 1982/3 A ‘map’ for the trading jungle by G. D. Noble Vol, 4:2 (81-82), 1986 Real world technical analysis by K. Calhoun Vol. 9:3 (103-103), 1991 Dow Theory by M. F. Bowman and T. Hartle Vol 8:9 (359:363), 1990 Financial es A series of articles by Gillian O'Connor in Weekend Money Picking the pops from the charts 19.8.95 How the tend can become your friend 29.95 How candlesticks can shed light on trends 9.9.95 Indicators confirm your first thoughts 16.9.95 ‘Waves than boom and crash 30.9.95, ‘Simple approaches to a complex jigsaw 14.10.95 In search of the stars 21.10.95 Investors Chronicle A series of articles by Griffiths ‘Making ascience of an art form 89.95 ‘The pencil is mightier than the PC 15.9.95 What are the charts telling us now 2.9.95 HingurliassOrsetet Ans sametox Ha KOHTponbHbIe BONpoCe 1, Onpeaeane, Kaxne 13 mpkenpineaenttitx chpas o TexHmyeckom anaan3e Repti, a Ka- Bepno Hesepno A. Thasttan wean — sepito cnpornosuposar», ro cay- Vv ‘urros Ha poutixe » Gyaynent. B, Brtoneaeni patika cytte- ‘cryior moneat Ss C. Meropa nosropaerca. 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Fonnute: yueOa — npouece HHAMBHAyAAbHAtL Texnnectoni avanns: Kypc ana nasnnaounx EB) HingurlaseB reopuu Yuna Pojvkepca TOABKo Aga mpania: Tipanuao 1. Ecau oto He pacter B neue, He noxynaitre, Tipanuao 2. Ecau oro ne Aeweneer, He npoaanaitre. The Will Rogers Theory of Point and Figure Trading by J. Adam Hewison Technical Analysis of Stocks and Commodities, Vol. 9:8 (320-322), 1991 © textsccini ananns: Kype ana nawnnarounx HingurliassBsegenne Texnmecuii anaana nenoatayer pastiooGpasiie aniaanmieckne unterpysenus. Bee om peGyior nocrpoenna rpacpkon, "papik Moxio Crpours BpYSHYIO, KAK BM Y2Ke ACAAAM, HAM, TO B Haute pens Gubacr vane, Ha KOMMIOTEpe, C HoMOUEEIO ‘TakHtx mporpa, Kak Reuters Graphics t Reuters 3000. Xora cyiecrayer mmpoxwit musGop, y KaxAoTO AHAAHTHKa eCTL Chon AIOGIMEIE RHAKI FpacpHKOR, Manaamrnineckie MeTORK, Conpenenew onprriute anaanrinkn pupaGaris naloT ¥yTbe, HoaBOAMIONIee OMPeAeATE ABIEKCHHE PHINKa No KaKoMy-anGo THny rparpuKa, KoToput ont nocrronnom 1 wontoansyror. 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Omsemus na cmp. 64 Texsnvectonl ananns: Kypc ana wasnnaounx QQ) FUNSsEre cee ewoago wwedso1oHs MAN>edy weHavENMAMIY —— BENAUEMHHMYE saumdvee enon snared enon ‘snuntouo enon sunavee eHen WenAUENKONEW, —_BENAUBMHONENY EPs elton] latiug «WhO99 OMHOHOUB» HHHGedy / ‘enon vwentrovcou mut iurdvee even wenavenonew sven ana a «aodeg» otfva a neds n o n D sor rina | won IPs nas waned osHyonny eyendeLew OJoHHet Modu dosoQ © texticcini aan: Kype ann Hawnnarounx ILOrserer Ana sametox Ha KOHTponbHBIe BoNpocet 1. Ha karxqoit 13 mpunegenmx anarpann Haii- Altre 1eMy OrkPLITH, SaKpHITI, MINNHMAALTYTO 1 MaKcHMaAbHytO Hen Mokcnmansion —Mavcntanan — Maxewwansnan wa ena lowa sown [ ] 20nbsron omar oie ona lUowa Minumaneion Minar staan 2. Haitaure coorsercrsus: A.Cnpoc npesuimaer 1. Ajmmtie cro6ut mpeaaoreenne. HOAMKoB BIH. B.Tpemoxenme 2, Koporkie cronGuts, npensmiaet cemenjaromprecs cmpoc, Bcroponry, C. Crpoe 3. Apimmnre eronSrs i mpemoxere pectikor nnepx. »B paptonecum. Ae] 3 [Ba] 1 [ca] 2 3. Onpeaeanre, nepitbt HAH He BepHbL CAeAyIO- uyte yrrepxAenua oTHocuTeaBHO rpacpiKkoa oGnena H orkpsiroro uiTepeca: Bopwo|Heaepue A. Tlosnimenmte yeni 1 06% ema osnayaer caaGeiit pst v B. Monsnmenue nen n nor axenme o6newa cayaurr mpea | 4/ ympexatomyit 3HaKoM. CC. Topstmenne nem 1 oF: xpsttoro mitepeca osnayaer | 4 CHABHHE pAIHOK. D. Tompxenne yensi 1 nose rene orkpstroro mutepeca | 9/ oanavaer caaGbuit pbiHioK. REUTERS © textiiccini ananns: Kype ann Hawnnarounx HingurliassBe CU on cy Beeaenne 67 Jiuunn tpenaa 70 Monenn npopommenna/ KOHCONMAAauMK 72 Mogenu passopora 76 Jmunu noqaep KKH w conpoTHBneHna 82 Ckonbsauyne cpeanne 86 OtTHocuTenbHan acexTHBHOCTE 90 Pasppisbt 92 Tpumepsi rpabuKos, 95 Pestome 97 KonTponbneie sonpocet 97 0630p npojigeHHoro MaTepvana 98 Aononnutenbupie mcTOHHHKH wHdopmaunn 99 Orsersi Ha Kourponsubie sonpocs! 100 AeAa AOVAHO 3anaTs ‘Kono BX acon yueGuHOTO Bpextentt. Bos- MOXKHO, BHI cHpanHTTeck GuicTpee HAH He- CKOABKO Meaaeuee. TlosiTe: yueba — mpowece mnitenayanssst REUTERS Texnnveckni ananns: Kypc AA HaNMHaIoLynx eo DinguriinseYew Aoabure aeiicrsyer amma Tperiaa 1 ¥eM Goabme TONeK ee o6pasyer, Tem Goabme ee sHayenne. 3HaynTeaBHtit MpoGoit AmnHH TpeHAa OGKIIHO ‘osnayaer pasBopor MAM saMeqAenme TpeHAa. (On Trendlines, Money Flow index and the Elliott Wave by Brian D. Green Technical Analysis of Stocks and Commodities, Vol. 12:8 (321-324), 1994 REUTERS © textes aan: Kype ann Hawnnarounx HingurliassBsegenne Va06paxenne Ha rpaiuxe KoTHpoROK HEHE Gymar cosaaer Kapruny punosHoi «GuTBHD MOXKAY HOKYHATEASMH (SOMKANIDY) 11 MpOAABIA- Mit (oreaneasniDs), Punoutute eM aBiDKyTCH He To MpaMoli, a 3Hr3arom, TOAHHNasCy H Nagas 1 ganHcHMocT# OF Toro, KTO BUINTpHRaer B GuTBe mpoaasi{on # HoxynarexeHi. UroGis peuttere, crowT AM HM MpOAABATE HAH HOKYNATD, YACTHAKH PLAN a HYKAAlOTCA n TICTpyMeHTax AA OnpeAeeHHs cpoeli Topronoit crparermu, OAwuM 13 TaKINX HH CTpyerrTos 4 sisasieres Tper, piinika, onpeaense- tit caeaytomquntit OG paso ‘Tpena — nanpasrennoe asixente PoinowHBx eH. Cymecrayer ana ocnonmux nanpanaenus “Tpena, a TaK7Ke CHTYaIqis KOHCOANAAILIN PLItIKa pH Gokorow Tperiae, Nostmatenbitii Teena Cawraercs moaxoasiun [BpeMeHeN \Ast HOKYTIKH, 14 Sonsrriis Aamo‘ MOSHE Kpynmutii nopiamereasmait ‘per GutuBHM pianos. Yuact- HKH painka MoryT BH rparh, 3anHMas <6uruBio» oso — noKynas m CAeays 3a MOBMMaTeAS- HBIM TpeHAoM. TonwxkaTenbHbii TReHA Cawraeres moaxoasiunt bpemenem aast Mpoaarkn. TAM 3anIATHS KOpoTKoit M0- amqun, Kpynutit nomvxa- ‘TeAbIIMIit TPeMA TaKIKe Ha 3uRACTCH «MeABE2KHMD pulnkom. Yaacritnen puta MoryT BLINTpaTb, 3anHMas cMeqsexsion loss — Mpoaanast 13 pace ‘a srlocaeacrsust KymuTs. 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Kay Sawacryio 9TH MOAeAH AAIOT CHPHAAKI, MO3BOASIO- Me HaBAeub aHaMIHTeABHY!O UPUOBIAB. Kamiest unewor kpas, ckoueH- uiuie no uanpanacuiio apy K Apyry. Kawitest Moryr Girth Moavarouiicn vanpazaensi Beepx HAH Buus, Kax 1B cayuae c Tpeyroabhi- aM, pool KaMHa AoMKeH npousoitr paxbue, yea Gyaer AOCTHPHYTa RepULMHa KAMHE. Saxpyrnennoie, unm decronvarsie, MaKCHMYMbIM MHHUMYMEt ‘Sto He YacTo RCTpeYAIOMasicd MoAEAB paaRopo- ra, Ola UMeer TeHAeHIIWIO OGPASOBLIBATECH MEA ACHHO, B TeVeHHE HECKOABKHX Mecaiien, OTOOpa- —_ 2Kast SaTHHLYBUIyIOCH GOphOY MOKAY NOKYHATEASAHL H Mpoaanianit, 8 KovOpOlt HUKOMY He YAaeTeA AO- é aN aa Saxpyrnennbiii MaKcumym Kynon soma criti npewocxoacra, SakpyrAewitli MaxcHMyM unter (popMy, Hallo MUHAIOUIYIO SOHTHK, a SakpYPAeHHEAIE MIEHLEMTYM — Gawoaye. ITH MOAeAH He Aalor YeTKUX CHTHaAOB, K noayae i mpoags, HO ®CONETONIOLC ayy ny TOAAMH dbYHAAMeHTAABHOFO aHAnHaa WX MOKHO HCHOABSOBATE AAs IpeACKasaHsl BOSMOKHOCTEH AOATOBPENEHHBIX KaNIMTAAOBAODKeHHIL ‘nytt Bnoaue © testiccini atari: Kype ann Hawnnaroux HingurliassDr eC eee Con ald Hii } 4 ) i i i M LC “i iV \\ " | MA y ihe: Texnnveckni ananns: Kype ana HaynHaiuynx °o HingurliassUrl ody ‘yosozoiq Hime eH Hah xMHAOH! eMOLOOU HHpER ‘966r Sdoexot ee puoBLL Sn 1089 BoOdoKHINp -BodeD> ote BHNEd) cvnreus 7) | sonwoct? i i ) " K | fl nu wynmoverennttoy Ha/asn Hon ween Bode: aune emMpedy e1odoaeed nuetow 6 Texnnyecknit ananns: Kypc ana HayMHarouyAx HingurliassRl Tmuun tpenaa ine -Gapos» aneonerx yeH npenOMeNHA KyPCA ick Gyit/HeMeuvaR MapKa fi uot sae A Py _ are hae, pint nepenpnyanvoroea nna Holly Yt tt i ! || mepewepryran hh rt o ‘ronon ne Hy Ae woeiuapenomy pany UFFE |" 3a AeKa6pe 1996 ropa Texnnveckni ananns: Kype ana HaynHaiuynx eo DingurusnesJimnwu noazepKKu w CONpoTHBNeHHA Aun TOAAepxKH H CompoTHBAe- Hud — OAMH U3 OCHOBHEIX KOMNOHEH- ToBTEXHHUeCKOTO akanu2a, OHM BarKHBL AAS MOHUMAHHS TpeHAOB 1 UX MOAeAE, TaKUX KAK POAOAKeHHE H pasBopor Yposens noanepaKn 970 HeHOROIt ypoBeHs, KoTOpEI CoGAIOAaeTCs PHIHKOM B-TeveHHe HeKOTOporo HepHoAa Bpe- Ment. Ha 9T0M ypoBie CHA 1loKynaTeneit AO% TOUHO AA CAePAURAHUS HAKUNA MPOAARHOR, B peayabrare paiHox He onycxaerca HiDKe 9T0r0 yponis. Yposen conporaenenna ro mporusotoxoxHoCTs yposHio HoNAEPAKKH— YyPoReHt, Ha KOTOpOM ciiAa HpaAaBlon AocTaATONA ‘Ms CAePAUBAHHS! AABAEHI! NOKYATeAeH Ht PBt- HOK He HlepexoauT STO? ypoBedb Aja Texaeckoro atanusa ypessiavaiino Bax Ha Aes, ITO YPOBHEL HlOAAPXKHL H COMPOTHEBAE- Ht — 970 Te YpoRH, rAe paste Hpexpallianccs ABIDKeHMe Yel. TpeliAepst OXHAALOT, TO KOIAA ABIDKeHHe eH CHOBA MpeKPaTHTCs, TO 970 MpO- MaOMIAeT B Tex 2Ke MECTAX, ECAH 9TOTO He CAy'HT- (ai, HANEY TpeHA nlepectan AelicTBOBATE. Aint noaAepsKKH H CoMpoTHBAeHI HcnOABAyIOTCH TpellAepAMHt H Ha AO. PoRpeMeHHOMl, H Ha KpaTkonpeMeHHoit ikaae. Hanpusep, Toprosit (psio4ep- caMit OGbIWHO paGoTalOT B MIpeAeAAx TeKyULerO Alla, & TOPTOBLUM AKIUSIMIL HCHOABAYIOT AHEBHLE (Heaeabitsie, mecsunbie) pawkit. SdpepextupHiocrs AeHICTBHL eK BOAHSH AHEHIK HOA\ep>RKH H COMpO- THBACHI BHUMATEABHO Hay4aeTCH B HOHCKAX HAAOB MpOAOWKeHHa HAH pasBopora MpEAIAYUKe- ro Tpenaa, Ecai YeHnt NoAHUMAAHcs 1 saveM yaAH, pO Gun BAXKHYIO AMHINO HOAACPAKH, 970 CHMTaCTC Hpeaynpexaesiem o paszopare TpeHAa. Ecau yposeHth ConpoTHBAcHist ObIA HCHIBITaH Ha mpowHOCTS, HO He IpoOHT, 910 CusETAeTCH par HIM IpHaHaKOM BOIMOAHOTO pasBopora TPeHAa, © textes aan: kype ann Hawnnaroux Yposnn noafepxKn M conpoTHeneHHs ‘Cun: npogasuos npesooxonst cunt noxynarenei Ypowere conpernanenns i, il yh ity Ypowens noagepni CCunut noxynarene npesocronaT ‘onnsi nponasios: = ity \ seme [Yposens conporwencnna| : Een yposen conporwensHns He Guin npoGur, oaMonio, 6yaer ensrraH Ka nposHocTs ‘ApeAwAyUWA yponen® nonaepiiet, 70 MONT npwBecrs Kemene pena, —_ REUTERS HingurliassPassopot | noanepaxn/conporusnenns Koraa mpoGur yposen noaaepxxu, OW ApaoOperaer Hopoe aHavenue 4 craHoBuTcs YPOBHeM COMpOTHRACHHS, a KOFAA HpOOUT ypo- eH CONPOTHBACHHA, OH CraHORHTCA ypoRHeN, TOAAEP KKH. posit yposens conporwarowes, \ \ Conpornsnenwe | Roegnats snece sepa, en pate yposane Lr western \ Bece | lf oo ™ hE ee roca Orupsrruiit ueropec Ha duiovepcHEix poinKax Bo BpeMst HOBBILIATEABHBIX H HOHHKATeABHBIX| TPeHAR CYUMECTRYeT 3ABUCHMOCTS MEXAY YPOR- HAMM HOAAePXKH H ConpOTHBAeHUA. KOrAa phi HOK KoTOMBACTCAY OT AHHH TOAAEPAKU HAH CO- pOTHBAeHH, TO eCTb Ha PAIHOK MPHXO~STT HOBLIC MpoAABUBE HAH HOKHATEAH, AOAZKHO BOIHUKATS yReaHueniHe orkpsrroro uitTepeca, ECAH 2xe 91010 He HaGaloaaeres, To Taxas CHTYaIyHs AOMKHA Cun TaTbCs MpeAYMPeRAAIOUNHM CHFHAAOM, REUTERS Mpumep passopora moagepxkn/conpoTmeneHHa Toprosen noxynaer sonoTo 10 $350 8 To¥Ke A it Mpoaaet cBow nosHHO Ha ypoBHte ComporuBne- ust B 10 $400. Pasiox cocaaBstipaer OOpaTHo AO C (yponn noxgepxkit » $360) 1 Guiexpo noasit- eetes ao ypostis D— $425. Koraa cacayer 110- xynars? Muorne noxynaror no $400— na mpeasay- eM yponHe ComporusxeHHs, KoTOpHit MOET crars Hosni yposuem noAAepxKit. [pi 9ToM cHoTpHTeasHBait tpeRAep YeraxoniT samusTHth cton-npixas Ha ypo! xe $400, Ha caywait ecu OHAAeMBI ypoBeHS NOAAEPKKI He CMO- 2xeT ocraHOBHTE MaAeHe eH. \ pees ‘$400 "I \ i! 1, ih, [| Hoss yroen hy gh szeme Mh Se i il rorya c fou $350 noaaepnac Texsnvectonl ananns: Kype ana wasnnaounx EQ) HingurliassUE bei eek ee ad Koppexuna Tipx sHasirrexbtiom pocTe HaH riaqeHint BIHKa “aCTb ABIOKeHH 1leH KOMIeHCH- pyeros Tak Ha3siBaeMoit KOppeKUHet EcAM ypoxeHt 9T0r0 ABHDKeHHR YAaeTCA MpeA- ‘cka3AT6, TO MOXKHO C BEITOAOH HCTOALIOBAT CH= ‘TyaMtMto. CrtexaaHtCTHt To TexHHecKOMY aHaAHy HCTOABSYIOT MPOL{eHT KoppeKKNH AAs OMpEAeie- HG YPOBHeM MOAAepAKHC H CONPOTHBACHHEA, 3a- “MaCTY!O KOPPeKILW RO RPEMATTPEHAA MOET TPH= BeCTH K OTKATY MpHMepHO Ha TOAOBHHY MpeastAy- lero ABHOKeHHS, H MHOTHe TpeitAepDr MpeATTOH- ‘TaloT 9To sHaxeHHe, Apyrite HacTo HeTIOABSyeMIe sHateHHt KOppeKIMH BO BPeM «GEIHseTO PHIHKA ‘cOCTABARIOT MpHMepHO 33 1 65%, Kax Gyaer oKasaHio B rane Boanbl, WucAd U Yu -xAbl, OcOOO8 BHEMAHIHe Ha KOppeKILIO OGpalljaer- ca pH McHOABSoBaHHH rpacbuKoR Taxa H BOA Saanorra, Aysu Fastia YacTo CTposTca B BOCK MBIX HAH ACCSTEIX AOASX, a Topi BOAH DAAKOTTA, peackasuisaer yposii Koppexiuan # 0,382 (oKOA0 33%) 10,618 (oKox0 66%), ocHoBEIBasICb Ha “HICAAX, @uGonawin 2,618 u 1,618 coorsercrsenso, © textes ananns: kype ann nawnnaroux Npoyerte: koppeKynn powers woppexin ‘Aosias no yoosxa conpormsnern, lena asiowerca o6patHo x npeabiayuye- ty ypostionoaiepmct HingurliassDr eC eee Con ald “Frit I, yh im he yp Hm, Nap Mia “uh Texnnveckni ananns: Kype ana HaynHaiuynx oe DinguriinseUE aback ek ad Ckonb3aune cpennne Ckoansamas cpeanss puuncasercs RyTeM cAoxKeHHs cepmit TOCACAORA~ TEABHBIX [CH SAKPHTIGL H ACACHHSE Ha coornercrayronyee KOAHeCTRO MepHo- ‘Aon. Aas paciera mpocrax CKOABAIIUAX cpeanux ena Geperest 3a HeCKoALKO Ante. Kark- Autit HlocAeayIomyiit Aer» Crapas Teva HCKAIONa~ eres it 3aMensetcs TeKy{el! — orcioaa ANeRtoe cmenjenie noxoxxens cpeaHel. IxcHoHeHTHaAR ble 1 B3BeUIeHHBe CKOALSSINHe CpeAtHe HCHONS= aylor Ty xe MeTOANKy, Ho «nsneMIMBaIOT» HEH HanMeitee necomMINIE CranoRsTeA Crapte Hert, HanGonee necomuannt — TeKyUHE. one Cuomanuan ‘cpeannn sa3 ans 20 21,867 21 21,67 24 24,00 23. 23,67 Kaxoso enenyouee 25 [2] —— anaenne cxonsanuet 23 cpeavih 9 sro noenene 20 avensnoctw? Conbaamias cpeariaa — iiyKaTop ¢ 3aq,epx- Koll BO BpeMeHH, KOTOpBIii TlosBOAReT «crAaHH- Bab» AAHHDIC H HCTOARAYeTCR AAR TOATBEP ACHE ‘mpenaon nen. 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Llapoxo ucnoxbsyiorcs TPH BHAA CKOABSAIKIAX (CpeAHHX, KaXKAAH HS KOTOPHIX HMeET CBOH AOCTO- HHCTBA H HeADCTATKH, a HMEHEO: + mpocras ckonbsamtaa cpeanas (TICC}: + wsneuremttax CKOALSINas Cpeansist (BCC); + okeMOMeHHHAABHAR CKONbASIIaS epeAH (9c) © texticcini atanns: Kype ann nawnnarounx Bee 1pit naa CxOABSAMUEX CpeAHHX 1c HOABAYIOTCH AAS. + ompeqerenust Hanpanenus peHa08; + oGHapy:kenns curnanos noKynkH/mpoaarku. Tipu ucttoansonanuu ckoaBanmX cpearix ‘BaxKHO HOMHIITS, “70 HeOGXOAHMO paccMarpuBar aaHMooTHOMLeTus TeKyleH eH 1 CKOARIINCH cpeaneii, 3ro ana, ro rpadux ckoansameit cpeaueli AowKeH CrpoHTscs C HcHOARSOBaHHEM roi ke ocu X, wro y rparuxa yen paccnarpi- saenoil yentofi Gymaru. 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BupOveM, ‘Toproaas CorAacHo Takoil CrpaTerHH MOKeT MpH- BECTHK THKEABIM TOTEDAN, ECAH IEHBL ABHRYTCH EdL HOMBONY vou os wwovondou wnat > 90 N\ Texnnveckni ananns: Kype ana HaynHaiuynx 3 ny owes wotvondou 9 998 d) von oF wovordou 5 vsuodon2 990 3 - 3 Sova wo won nodop oom ands vse 27148548 Hoh 0089 oth ane Howeont 3 4 D 4 3 } My aye wovondou 2 990 AAAELLAEEE L Yon’ 097 wovordou 9.90 ptt »OtHocuTenbHan 3dcekTHBHOCTR OrmocureabHas 2 pekruBHocts oKa- SbIBAeT, HACKOABKO KOPOIO (IIPHOBAR~ Ho) BeaeT ceGs AaHHas HeHHast GyMara AM rpyniia KoMuaNHit Ha ‘poHAoROM BIHKe Ho CpaBHeHIsio c OCTANbINbIM PBIEKOM HAH. Ho cpasiieHitio ¢ apyrolt yennolk GyMarolt 3a aati bili nepHoa spenent, Ecad oTHOCHTeABHAR aqxheKTHBHOCTS ON -KUTEABHA H TOBBIMAeTCH, TO paccMarpHBAeM oGsexr oGrouser uHAeKc. Ecau OTHOCHTeABHas odubexrunsocrs naqaer, To oGKeKT oTeTAeT oT Muaexca. Tlockoabky orHociteantias odpqpexrus- Hoctb — Nlokasaveab cpasHuTeAbHtEi, ee rpaipuk MoxkHO Crpour Noa, ocHo! 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HsMeneHue yer, compoBsoxaaeNoe COOTRETCTBYIOUIN HaMeHeHHEM OTHOCHTeABHOIL odubeKTHBHOCTH, CAYAHT HAACKHBIM CHFHAAON, AAS HOKYKICHAH MpOAADKEL Pacuer oTHocHTenbHo aheKTHEHOCTH Hipke npupeyerta cpopmyna aust pacuera orHocit- TeAbHOIt oxb(EKTHBHOCTH Ha OCHORE CpaBHeHiis HeHs! saKpLITHA aKKH 1 oHAOBOTO HAAeKca (oGparure BuuManie, 40 8 OrHOUIeHHE pBlHKoR AKUMiL YacTO HCHOARSyeTes HaIBAHHE COTHOCH- TeAbHad CHA B IHAVeHMH eoTHOCHTeAKHas I)- cbexrupnocri», FloustTHe cornocuTeastian oquex- THBHOCTH» dalle HCHOABYeTCS Ha PBIHKAX BAAION, TORAPOB H GoAblMAHCTBa (Pb1OUePCOB, HOCKOARKY HOHsITHe KOTHOCHTeABHAS CHAa» MOKHO CHYTatt ‘c uHAeKcom RSI Yaiiayepa. © testes atari: Kype ann Hawnnaroux A2_ AL Ornocureabnas _ B2 BI oa Br rge Al —nocaeguas yexa saxpumust axyuu; BI —nocaegnas yena saxpuimus shongonora wigexca; A2— Gas0nas (uawarnias sa nepueg) ena saxpeimua axyuu; B2 — Gasosas (navaasnas sa nepucg) ena saxpuimus groxgonoro unigexca, era ann \ Tinann oTwocnTensnom sbbexriBHOCTH \ Naparowan omHocuTerbian sb bextHEHOCTS ‘yraauiaaer va nagenve aKuit npH noBbALovNH jena Wri Ha To, #70 aKMi nagaer Guicrpee, ‘ew niaene. ena axa ate ‘Aunvs omocuTensHod abertHeHocrH \ Ronrunaiowanca orHocurensian 2¢eKrHBHOCTS _ykabisaer Ha NoBseNHe axuyH npH NoBbWEHIA ugexcannn me Haro, 4To axyiA noANAMaeTeR Guicrpee, vem wiaeKe. 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REUTERS Texnnsecknii ananus: Kypc ana HayHHaIoUyHX eo HingurliassUE bei eek ee ad Pa3ppiBbi Bavactyto saKpurrie oANHX ToproB He conriaaer ¢ oTKpuTHeM CAeAyIOUtHX B peayaurare a rpacbike noanmKaet Paspsts. Brocacacrsin paspiis MoxeT Gur saxput nput Toprosae. Hactomupit paspias BOSHMKaeT TorAa, KOFAa GOABIIEHICTBO Y4ACTHAKOB, PuIHKa oAHOBpemenHo pemtaror, "ro Her HY aaiores B 6uicrpoit Koppextunt, Takin o6paaon, paper MOsKKO OMPeAeAHTE, KaK: Cayvait, xoraa wmmnwaasitas teria 3a 1epHoy suite, Hew MaKcraAbttas Herta cAeAyTonero epxoga, WAM HaoGopor, MaKcHMAABHaR 1e1Ia 3a MepHtog tDKe, He FTNaABHIAR 3a OCAC- ayromunit nepro, Paspuinis vacto HaGaioaaiores Ha dpuio4epe- HBX puINKAX, perKe Ha MeHee AMKRMANEIX PLINKaX AKI H PeAKO Ha BaAIOTHEIX pHINKAX. Tiprinia ror R-toM, ro dbitowepent — 11 CCTpYMeNT Kak AAS xeAPKHPOBAIH, TAK H AAS C= Kyaamquit. Tpeiiaepst Mory Gucrpo pearuponart. Ha HeomHAAMHBIe COOLITHA HyTeM paswemeniAst ‘opaepos, cMemjariomyrx terri CHABHO Ht oveNTE Gis~ crpo, oruero nosnHKaior pasputp. Paspiipit — Moqeatt, HeTIOARayeMEe Ast OnpeaeacHust 1 OATBEPAKAeHHs Tper aon. Cynectayer vermipe ochonnux ‘Tuma paaputnon: + oO brunt paspEiB; + paspiin up mpoGoe yposus; + paspbis yeKopenus; + paapiin ucromentis, OGerinbii paspeis. Take paapnimis acrpeyatores mpi 6o- ODOM ABIDKENHH 1 OGHIIHO ykastABaIOT a nleaocratox mirTepeca K GyMaraMt 10 Aannoit ene, Taxwe paspiisy oGEIaHO BCTpexa- 1oTCs MpHt MaerbKHx OG LeMax TOPrORAH 1 MAAON KOAHeCTRC @KTHBHEIX 4ACTHHKOR. © textisccini ananns: kype ana nawnnarounx Paapbie np npoGoe ypoaHia ‘Tave paspbibh oObIuHO BeTpevalorcs B KoHIe He PHOAa KOHCOAHAAIMH, HempHMep npH BocxoAs- les TpeyFOABHIHKe, H YKa3hIBAIOT Ha HavaAO 3Ha~ MHMOTO ABIDKeHHs pKa, Takite paspHIBBI OOH Ho BOaHUKAIOT IPH GoAbILOM OGBeNe TOproBAH, Manor Maxow yea yeHa Mae Tpenwayani Mannan | Mae L— nepwon am ueNa ena Mann a wea Paspa’ Man: ueNa Npeawiayuna nepioa OGuieti paspeiBt * Saech 1 aaee sax Ml o6canauaer panpue REUTERS HingurliassPaapbie yexopenna ‘ror paspin 060 Berpewaeres B equtie yeHtosoro ABH>Kena HCTOAB~ fe AAS OUCHKH PasMepa ARIDKEHHS OH CU- —_PaspaiB yeKopeHHs curHaaoM mpoaoaxenus Tpenaa. OGLeM fe USMeHsTECA MH paspulne, HO ecaH 970 MpOHCXOAMT, paspuB yKasbiBaeT Ha CHABHIAIE 1 4 pen, Paspise Yexopetnia raxme MuOIsA Hasts- | \ ‘alot HaMEpsHOUHO PaapLIBOM, HOCKOAKKY OH (11a | 1 onarenane evacTo) MpOWeXOAHT 8 CepeauHe 10- I oe 1070 Tpediae, HAs paaphinom MpoAoA- | | Yeooerm 2XeHIa, HOCKOABKY OM —~ pHAHlak npoAoADKeMUA ! ' peng 50% aownenn | Pagpuie ucroujenna | ae ' ‘Dror paapise yxasninaer wa sanepurenne aniexe- [it ‘ tea les womer Gira pina 3a paspLis yoo wt ' peng Osirae paspias Herometnia mpowexogur feos ' ‘sGausit passopora pera, Sapaniee orsinutrt pas- | ! : ' pis yexopeua or pagina rcrouents yocraron- Ho CAoKHO. OTAHUHTeABHOIt OcOGeHHOCTLIO pas- ' ’ Diba Wcrometiin aaANETCH, KaK MpaHHAD, OCH suicoxuti oGteMt roprosat Pespaie ncromena Txuen, axnpaunno, conpononaaeron ‘nKoM o6seMa REUTERS Texnnecknii ananns: Kype ana HaynHaiouynx (os) Dinguriinserere eee ceed Aveeno rpadnk s ange apous 3-ecasneix ‘PopsapaHtix KoHTpAKTOS Ha HuKen® Ha Gupme LME |) Ossie paspHie \ ral, comcuamn | yokopenna (KpaTKocpownbi) Kil Uh See ss " (ronocposns { ieee Ot, Hoxoropoie wa wanBonee sant aspesos oSsenens: xpyaKaNM. ‘npo6oe youn \ i eccea hh ws Awesnon rpadme a Hio-Ropikc 6apos: duiovepcos na Kohe smapa v KaKao a wapr 1997 r ‘Wy paspere npn = SS | a me | 1 H byt H " Hf ay i \ : f lM | «fl ec : wan paspus px nposoe yposnn = O tevssecroit aan Kype ana nasnnaroux DING UP ssDr eC eee Con ald oom Ld pe wate 4 een sonngeds isdewndy sre oassauins Q) g & = = § 2 = A SUP ns Js ‘)[om Pesiome + Tloaepsxxa conporssrenie ‘Ss + Ckoabsamtme epearie Bia sanepummax naysenne Tpersero pas- AeAa KIHIH H Celt4ac AOKI HMeTH HET oe mpeaCTaBactiie o caeayiouqinx MOAeAAX: + Paspstpst + Ornocurreastias aepipexrupiiocrs + Annum Tpenaa “roGu1 mposepHTs cBoe HOHUMAHHe MarepHana, + Mogeait mpoaoaskentist/KOHCOAHAIIIH nonpo6yltre suinorsiens sagattua xpatkoro tecra, + Moaenu paszopota Bam TawKe Moxxer OBITS NOAeseH OG3op pasyena, KotponbHbie Bonpocbi 1. Hafigyrre Ha 9t0M rparue croABKO fy MoAeneti, CKOABKO CMOxeTe, 2. Hatiqumte wa atom rpacbaKe MONeAR farsi ‘THM «KAHED | Wh \ Hal 1 Omeemee na cmp. 100 | a a REUTERS Texnnecknii ananns: Kype ana HaynHaiouynx 6 Dinguriinserere eee ceed eamamonont anced « ‘sunadoxos ardeed . ‘smgodk o0godu udu ade’ « sanéced wramnigo ‘aoaridced eum 1agaisains3 + rasiadeeg sxndeso weersed 336 mods woe on oa noe nd taservon bes « — 908 minivod wetmscavowo wemomancg « — 99 UL Mat¥ado wemEAvOXD HeIDeALI « san, “te maces ‘ortLeRHOLDag va ‘aHOLAKEHEE srs numa ‘eamavit egovods AVON « yehadion o1oeh 2av09HEH « orwancet yovaNt 19 aoneveeaoveds ‘evitad amoreancens ‘HW icin Ht coud eiodoaced wuotoW OW « vou wuhettauooHon /snHomvottodu MuetoW, fnodas a PH + bunowenLoduos 4 wooxdalttiou HMM, eitHods HMHHY, erevderew [oF osOHHatMOdU docoo ” @ & z 5 a a © tevstsecroit ananne: Kype ana nasnnaroux SE Joi gross »Knaccuyecknii ananns rpaduKkos Orserb! Ha KOHTponbHBIe BoNpocbI 1 Hatiqurre a arom rpacbuxe croabKo fa MOAeAei, CKOABKO CMOKETE, A Avornan cen 7A i ", ~mm Ww } Why } \ WE Tp Mepenepnyansco J ‘ova w nneww: r \ Fi fh iW 2. Haitanre a 9t0w rpadhiike MoneAB Tuna «KAHHD, Ans sametox © textes ananns: Kype ana nawnnarounx HingurliasBeegenue 103 Munexc oTHocuTenbHolt cunt 106 CToxactuyeckne ocumnnstoph! 108 Cxonmenne/pacxonnenne cKonbaAU\Hx cpeAHHx(MACD) 112 Npumeppi rpaduKos 116 Pesiome 119 KonTponbnbie Bonpocet 119 0630p npoligenvoro matepwana 120 Aononnutenpupie MeTONNMIG MHbOPMALAN 121 Orsersi Ma KoHTpont ;onpocbt 122 AeAa AOVAHO 3anaT ‘Kono 60 Munyr yueGnoro npeneni. Bos- MO2KHO, BEI CpaHtTeck OuicTpee HAM He- CKOABKO Meqrertuee, TloxmTe: yueba — Mpouece HHAMBHAyaNbitt Texnnectni avanns: Kypc ana nasnnaounx QD) DinguriinseB 1954 roay ue nosesao yerpouraca & Investment Educators 4a Aoa%K- HocTE «xOMsTIKaD. $I HocHA Garax, OGCAY2KUBAA HpoeKTOp, PHCOBaA rpadMKut U EBITIOAHSA nopyyenus Baaaeasta, Paasia Aucrartra, 1 TextuvecKoro «rypy» Pos Aap- cona. Lane's Stochastics by George G. Lane MD Technical Analysis of Stocks and Commodities, Vol. 2:3 (87-90), 1984 © Textsccini aan: Kype ann nawnnarounx HingurliassBsegenne Tlocrpoenne rpacuxon — aeao ornocuTean- Ho MpocToe, Ho, KaK Bid BIAeATL, TOPAIAO CAOR- Hee ONPeACAATL ROIHNKAIOUINE Ha HHX MoAeAT. Ha rpapikax peako nosmasiotca verKHe Moxe- AM, Kak Ha HAMOCTPAl|AsX B YEGHEKe, H OITO- MY MpeacKasantHs, CAeAaHIHIe TOAGKO Ha OcHOBe rpacbikos, HHKOrAa He GuinaioT HoAHOCTSIO Ha ‘Ae HIME, Ure Moryr ceaaTs yuacriinent puaiKa AA 110 BUIMIeHHS HaAe@KHOCTH CBOHX peAcKasartHit Oy Aytunx Tpetaon puke? Kaknte cynyecrsyior mit crpymenmar 1 Meroast? Bul, Haneprtoe, rosmre, sro ene Aoy monHMaA HeOGxOAHMOCTS HoAye- TUS THOATBEPKACHHA TpeHAa Mepea NpHNsTHEN puitiownx pemenni Kax oaun 13 cBonx uanxaropos Aoy Hc~ TOABapRAA OGDEN, ‘Tpenn roarsepyaaer- Cn BbleoKiM ob eNOM (eaxcosanoneit 6 eM Ha nitkax). Npormeorpenaossie Aarne o6vewa ‘Yuacrunxn puiika Hcoabayior pasnooGpaa- mute HHAMKATOpH Ma MOATREpaRACHNE CrpaTe iti, ocrtonarmax na anaanae rpacpukon. Ceiiuac HcHOABayeTCa NHOKeCTRO HHAMKATOpOR; HEKO- ‘Topwle H3 HHX MpocTss, APyrHe TPeGywr CAT ux NareMaTHueckHx pacieToR, paspaborarinx cnenuaanctanm, Baxkio nosmnrn, 170 pasa MBIe HHAMKATOPH AyuIe PadoTaloT Ha pa: BHAAX PHINKOB, HaNpHMep Ha RAAIOTHON HAM Ha (buroepcrom. Yerreumo paGoraromne KH HCHOARYIOT ¢KOKTEVARY 13 HHAHKaTOpOR AAS nocrpoena crparerm: mpuMertenne Kakoro-T0 ‘oaHoro miukaTopa Gino Ort oumGowsM. Minas KaTopi, 1crioansyeMtute Ha GuicrpLax cpoovepcutax, PHINKAX, He OGs13aTeABKO MOACSEI Ha PBIHKE aK- unt nant ¢prmancopurx uaeKcon. Takoke caeayer REUTERS cy HOMHHTE, WTO ¢ HOCTOsHHEIM pocToM MoMIHOCTHL KOMIOTepOR Ht pacMpeHeM punKoR pacer KOAHYECTEO HOBLIX HHAMKaTOpOB — BapHaHTOs, crapiix Ha mpaxnunuantHo HoBix uNCrpysen- B Goanmmucrne cayuaen uiaukatopit u206pa- -xaloTes! Ha AOHOAHHTTeAKHEX rpadbHKaX ¢ HCHOAB~ aonaiiieMt neprukaabiioll OCH AAS 3HANeHILA WHAM karopa it ropusonTaabHolt — AAs npementt, Stu, rpadiku oOutuHo pasmeujator toa rpadpHuKOM ABH -XeHI eH ¢ ODE OCLIO BpeMeHH, Ha pucynke u206paxeno Tumisioe couera- ne rparpuka yer aku 1 oGLeMOn Topron, — smo an ge Buasi mHauKatopos. Cymecrnyer ana ocHOBHIIX BHAA HHAMKATOpOR, + Huquxatopst noaTsepxaentist HAH pacxorwKAeHist Kax caeayer u3 HaseaHus, 9TH MRAMKaTOpEL ToATBep>kAAIOT TPeHAH HAH MpeayMpexAator 06 ux cMene, Pacxoxaenem HasbiBaeTes CH= ‘TyalMa, KOTAa AHH HHAMKaTOpA ABIDKETCH B IIPOTHBOTIOAOKHOM HalIpaBAcHHH OT AMKH, eH. Caeaosateabio, pacxoxaexie — 970 oT cyTersie noarBepx\eHs, uro CAYKUT MpeAy= Mpekaaionuant carHanoM. + Mepunonnsie uaauKaropst HAH ocuHAAsTopst ‘Stu MHAMKaTOpH USMepsiOT CreneNE usMeHe- HMMs! HAM CKOpOcTh ABIDKEHMA Yell, a He COO creeHHo yponext yeHtut # uCHON HomouyHt 8 BEIGope Toprosoit crpar HCHOABSOBAHMH 9THX HHAHKaTOpOB PAcKOrKAe- ue TaOKe smaseTea UpeaBEtiailKo BAKHLIM, Texnnveckni ananns: Kype ana HaynHaiuynx © HingurliassWankaropit noaraepmaeHna aM pacxoKaeHHa STH MHAMKaTOpHI OCHOBaHH Ha nepBHHOM rpa~ puke yes wast cBstsaMBI C HUI. BU Y2Xe MOSH KOMMAMCH € OOAbIIMHCTEOM 9THX HEAMKATOpOR B MpeawayIux pasaenax Bught rpapuxos No- geau. STH HAAHKaTOpEL BKAFOYALOT: + 06 eM + orxpurnait wrepec; + ornocitTeabiyto adibexniapHtocts; + cKoaRssue cpeaune. fOGuem —_|10 anne na crapetiumnx HninKeTopon, RnepRise cnontsonantii Apy. Ero saver lcaaanta ¢ nenianen voprye ma laymar, Obum0 one HcHonbsyercs ane HoxTsepKACHIS! |ABHoxeHH eH; pacxoxkAenHe Jcuirraetea mpeaympexxaatonuin, forkperreim [ror miasiavop aoaoben 8 nutepec |punexenn oGtemy. Ero axavemt roKe cosaHbl € HeHtANt Ha ropryesize Gystant. Qror muaanarep tctionsayior Toprosi |puovepcanst: crass pena |AoaKent HoxTBepxAATECH nontamenem orxparroro wierepeca [Ommocwre- [Omiocirensian abibertimnocrs Iowan |XaPaktepuayer miauiooruomente Sebepexcrne: | "CRAY Aan ero; Oysaroit Rocke [Ht oGmtt noseaenttes psa rt [cextopox pianika.AMoSite moyen ua nagenus sonata yaurumparic KouTeKcTe: Haipuep, uosouienne laxuits na 15% ne antevaraser, ecaM epeayiee nonuamtene cexropa Jcocranmno 25%. Hamertenme xpeniaa loriocirrention acbexrunniocra Noxker ykaananars wa tpaayie pramenerier nrpesiye near B octiowe nen. e Texnnyecknit ananns: Kypc ana HayMHarouyAx [exons] Cronsamuwe cpeaime asuyme | cmonsoysorex aaa craatsas fepeqvine | NeHonsx Aarti w Hers THOATBEP>KACHS TpeHAOB, ypoutet HOAAEPKKH 1 COMPOTHEAEIHIL, Oxi saloKe HoAeaitll pH BuIGOpe sopronoii crpazerit, ocoGeno spat Hropronae ¢biiouepeam HAM 1a IKE € CHAMHLIM rlopbaluaTeABHAM HAH NOHDKaveAbIILIM TpeHAOM. Mnepynonnete HHAKKaTopEE nw ocunansropet STH HNANKATOPEI HIMepsIOT CKOPOCTE HsMEHe- 1HMs HAH eKOpoCTE HampasnerHoro ABIDKeHTES HEH 1 AaloT Mpeaynpeskaatouyte CHTHaAK o GAHIKIX ‘rouKax paspopora Kora nent Giicrpo nosuaraiores, rosopsr, ‘sro lena Gymara nepexynaena, 1 970 canraercst CHTHAAON K TOMY, HTOOLI BOIACPKATKC OT MOK ‘xx, Koraa ent Gsicrpo noHEDKaIoTCs, rosOpsr, ro GyMara nepenpoaatia, 1 970 cuTaeTes CHT HAAOM K-TOMY, NTOGuI ROIACPIKATLCA OT MPCAKH, (Ciryanier cHasnoii neperynaentocrs/mepenpo- AaMHOCTH OGuHHO CHHTaeTCA MpHaHAKOM HeN13- GexHoit peaxnm pLINKa, BOIMOIKHO, AaKe pas~ sopora. PeaxiHeit na CHALHyIO mepeKymAenHocr MOXKeT Gur MepHOA KOHCOAHAAIIHH C GOKOBLIM ABIDKeHHEM HEH. Octnasroptr BKAtoNaIor: + uigeke orHocurensnoll cast (RSI); + croxacrinseckitit ocuanaTop; + cXORACHHE/PacKORACHME CKOABSHULHX ‘epeantnx (MACD) HingurliassWngexc ornocuTenbHoi cunbi (RSI) ‘Do HHAeKC GxIA paspaGoraH aMepHKAHCKHM anianitkom AK. Yanacom YaiixyepoM-NAgAlnon. H CHiRTACTCH TONYARDHBIM HHAMKATOPOM AAS PHIKOB aKigst, BaMIOT Ht dpBIONPCOB, MACK Ccpasataer Texyuryio aqbextuBHocTs 1leHHOIk GyMarit TOABKO C ee COOCTBEHHOH axpxpeKTHBHO- ‘cTBto B MpoUtAoM. Virgexc RSI naMepser coorHomiene ABI>Ke- Hitt 3BepX H BH ¢ HCTONESOBAHHEM IKAABK OT Hyasiao cra, Ecant RSIcocrasaser 70 Hast Gonee, ‘T0 HleHHas OyMara cunrTaeTes MepeKymeHHO: HeHE TOAHAAHCh BBIILE, EM OHAAHHS PEIHKA. Ecan RSI cocrapaser 30 HAs MeHee, To HeHHAs Gywara cunraercs mepenporanoit HetTs ony= CTHANCE HIDKe, YeM OKHAAHHS pEIHKa, MHO- THe aHaAHTHKH MpeanounTaior YCraHaBAKBaT® ‘Ypopii rlepeKyMAeHHOCTH/tlepenponaHOCTH, Ha yposite 80/20, a xe 70/30, Croxactuyecknit ocumnnatop ‘Sto moKasareab ompeaeaser cocrostKe mepe- kymenoctu/nepenpoaantiocrit B mpeaerax 0 100%. Haxarop octoptinaetcs Ha TOM, ‘sro api cniapiiom nopitmareanston Tpenae eH 3aKPBITH 3a KeKOTOPHtit TepHOA Bpe~ Nenu HMteIOT TeHAeHIUHIO KOHI{eHTPHPOBATICA B BepxHefi 4acTH asaraz0Ha, CoorseTcTBeHHO, IPH CHABHOM TlOHHPRaTeABHON TPeHAe Tent 3a KPHITHs 3a HeKOTOpHt! HepHOA Bement HTeKOT ‘TeHAPHIUMTO KoHeHTpUpOBarLca B HRTEM Ya- crm awranasona, Croxactieckne pacserst oGpasyior Ape aaa, %K H %D, onpeaeasioutne Ha rpacbi- Ke oBaacTH nepeKymenHocTH/nepenpoaart HOCTI, PaCKOOKACHHTE MERAY CTOXACTANECKH- Mit ANEIAMH H AeHICTIHEM HEH AeKamleft B HX ocHone 1eHHOf OyMarn aBAReTCA ToproBDIM. curnanom, REUTERS CxomqeHne/pacxomnenne ckonbanuyHx cpenHnx (MACD) Dror muauKarop paspadoran Ayxepanba An- nreab, Ais MACD mpeactasaser coOoit pas- KOCTE MOKAY ABYMH SKCTOHEHIHAAGHBIM CKOABSAIIJHMH CPeAHHIMH, a CHEHAADHASL Hast caTyckoBast AMHIHS MpeacTaBAseT CoOOIL 9KCTIO- KeHIMIAABHYO CKOALSAINYTO CPeARIOIO pasHio- cru, Ecam aint MACD curHana expenyina- roTes, 970 cunTaeTes ykazaHHeM Ha BeposTHoe raMesenme Tperia. OGven, orkpsirétit HiTepec, OTHOCHTeADHAS ‘debexrimiocrs 1 ekoanaamne cpeqrne ye pac- CNaTPHBAAHCE B TOME KHHTE KaK MOAEAH HAM BANS! pacbHKOB, a B STON pasaene MPHBOAATeR MpHoe- DH HX HCTIOABSORANHA B KavecTse HHAMKATOpOB, VauKatopst ABIKeHHs OMHCEIBAIOTCA 10 ‘TOMY Ke TAaHy, WTO HB MpeABIAYIHX pasaenax + unigexc orn ycrreatnoit cHant (RSI); + croxacrieckait ocuMaasTop; + cxonqente/ pacxork ene CKOAKSAIIIEX CPA sux (MACD} Baxio nomite, ro ava Kina He spaserest Hewepmumarouyis mocoBHteM Mo MIAHKaTopant, a TOABKO AaeT OG30p Mpeanera. 3a AOMOAHITeAL= oii mpopMarueii oSpamaitreck K HCTOmNHKAM, MpHBeaeHHEOM B ChucKe gonoanumesbrunx ueMoN- Texnnveckni ananns: Kype ana HaynHaiuynx e DinguriinseWngekc oTHocuTenbHon cunbi Vaqexc ornocuteasnoit cmast (RSI) 1A paapasoran Ax. Y9nAcom Yartaa epom-MAGAUINM TepBOHAsAALHO AAs aniannaa rpacbikon 8 BHIAe «Gapon» aK- unit Han ¢brinartconinx uHAeKcoR, Ho celiac mpi Menseres Ha ncex pulnKax. VinquKarop cpannit- paer ofycbexmintiocty ero Gysari ToARKO Coe coBcrnentoii a¢ypexTuBHocTsIO B MpoMAoM, ate © Apyrineit Gywarant HAM pBInIKOM B HeAOM. Vingexe RSI cxeayer ncnoansonare co- BMECTHO ¢ rpaibHKaMH ABIDKEHHA 1H, Ho He copMeCTHO c ApyrHMu ananorna- HILIM HHAHKaTOpaNH, HampHMep CTO- xacriueckiiwit. 3navenms RSI AeKar B Mpeaenax 0— 100, uro Noxer oatiayarr eneayromee: Cocroaune nepeKyAenHoctH/nepenpoaanHocrH, Ecam RSI cocrasaser 70 HAK Gone, To eH nas GyMara cuuraercs nepeKynAeHuoit 1 cAeayer OBIT OCTOPOXHBIM, NOKynas Ha atom yposue, EcaH RSI coctapaser 30 HAH MeHee, To WeHHas GyMara cunTaerca mepe- Mpoaanoit H caeayer GuiTs OcTopOXKHEIM, mpoaapast Ha 9TOM yponke. (OMe a praqmnes Tink Moxcito HaGaronart, xoraa stiasenne RSI nepeceraer yponertt 70—B0 c nlocaeayrouys, cHInkeNHeM; CooTReTCTEENHO, BraAHHa oT Meuaeres npit epeceyemn yponiia 20—30 Cc mocaeayronquat nosssutenmen. Anaans RSI AAeT TOABKO HACTE AOKASATEALCTE, HEOGXO- AUMEIX AAS MpHSHaNHs popMHpoBAHHs Ha PBINKe mika HAN Brayitts OMoaean Ha rpaxe RSI runuune moaeau, 1a Kile Kak «POAORA It NACH», TIHKH/BTAAMEEL 1 BAIMIIEABI, MOryT GbtTb Gonce 2aMeTHEA, eM. a rpaduKe ex, OPacxomyenne Pacxorxyerine Mexkay aBIDKerHeM 1161 # RSI acto cerrraores cHAniiane npirsttakowt TOSKE paanopora puika. Pacxoxqene BoaiitKa- er TOrAS, KOTAa MIpH MoBLaaTeABHOM TPeHAe © tevssecroit ananve Kype ana nasnnaroux HeHa aocrHraer HoBIAX BEICOT Ho cpaBHeHitIO CHpeARayuIu t4KoM, Ho HHAHKaTOp RSI He Hpesbiiaer npeabiayiuero MakcHMansHtoro Pacuer RSI Muaexc RSI uamepaer coorHomenne CpeaHiX eH H HopmaaHayer AaHHHIe, TMpHBOAS HX K aHaeHHAM oF 0 Ao 100. Higee Noxer Obit paccstTaH 0 cAeayrotey octiontony axropuTay: 100 w= of] tae pegs emepxmx ye saqpormage 9 n el ~CpeRIOITeRORHD HEN SaKPHETNAD sa TERE MIE «Bepxtin nena saxpotriy — mssenene yer 38 ABA HOCACADBATeABILLX MepHoAa, B KOTOPHE yerta nosstmtanac. «Hingis nena saxpairiay — mamenerme nex 3a ABA OCAADBATeABILLX MepHoAa, B KOTOPHE era nompxanach, Yaiuyep wsnavaabHo npuMensia n= 14, xpyrne ‘acto HcHoanayemme rleproast cocranasior 9 11 21 act Bone yao6uian copmysa pacuera RSI neao6ua mpeabiayiieit, Ho HCHOALsyeT 9KCHONeHTIANBIETe CKOABSAIHE CPeAHHE AAS BLIPABHHBAHHS MOAy- ps = Soe emepxmns ne sax a €DeHBHT eHMDRIUEE eH JARDATTIGD 9aTe Ke HAC Osnacte nepexynnennioctn ‘Ai RSI S Osnacts nepenponannocrm ‘Onn v2 meToOR cocTOnT & HaMeNeNAH ypoRNen nepeny- nnenWocrW/nepenponakHocTa B aasHcHMOcTH OT TPEHRA DuINKa, HenpHMeP, NPM NoBBiWATeNSHOM TpeHAe AAMHM Moryr npoxoayte Ha ypoone 80 u 40, a npx nownxaTens- Hom — 6020. REUTERS HingurliassRI 80 hy, " in Hed 4 LHe Fmt ntsc fa : ie ry cern NY re (tose cn a a a a a Sepa sa neconnta ‘xeon rpagnn 8 onne *Gapos: yeH Ha goiovepce! Hote Hopxcxor xnonkoson Supe Fpagu: RSI ocwouan a 9-arepHow nepwone Wy i Bopxisa sus npowenena tal \l ty lA We ul lal fa “yh i" \E ee et __ ta yposne 80%, none — a ypoune 20% Texnnveckni ananns: Kype ana HaynHaiuynx 6 HingurliassMnankaropp! Croxactnyeckne ocunnnatopel Croxacruueckne ocumaastopst Bitep- pure OMAN paspaGoranM Kak HIDKe- nepiitit anaanrauecknit nucrpyment 1 GuAM agarTTApoBanis vst onpenenerAst cocroaiina nepexynaenmocra/nepenpoaarocrit Cc ncnoapgonanen mpoctoit mpoentHol amepikanickaM anaantiKom AyxopyKen C. Asi Hon, Octtonnoe nprmenentie naiKaropa — n0- Hick paaarrantit MexkAy CTOXACTIMCCKHMH AMHTTEH H coGcrsenno Keo Hento# Gymarn. 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KOpOTKoi 1 \HHTIO# CKOARAATIUINHE CpeAHT- Mm nents + Meaaenuoe MACD, nau curnaasuas au- ams, — okcnonenmuantian cKOALasIaa cpeauisis Osicrpoll aus MACD, + Curaa x mpoaaxe — Kora Ouicrpas anni mepecekaer meqacunyio cBepxy BHHS Tipit noautiamerx ariaenniax oGenx annul + Curaa Knoxynke — Kora Guiexpas anni llepecekaer MeaNeHHyl0 CHM3Y BREPX Ip HeraTHRHBIX 3HAeHUGIX OOeHX AMEIIL © Textccini aan: Kype ann nawnnarounx Croxactuyeckne ocunnnsropet + Vienoxnaonarnut Asittion ak mevo, ompeyenc- ‘Hvis CocTosIIHs| HepexyrtAeHHocTH/reperipo- AannocTH Hla Mpoctoii ponetHoll mKaAe. + Ager 203MoxKHOCTH OOHAPYIKHTS PacKOKAe- ile Nexay eH! GynarH H croxacruMecKort MH! + Cymectnyer apa Biiaa croxacrisieckoro arta~ avtaa— OsICrpetit u MeqneHttti + Beicrpsiil avaaus Hicrioassyer ABe KoneGAIO- yHeCs AHHH — HCXOAHBIX sHaveHIN, WAHL %%K, u mpocry!o CKOABSmIMyto CpeAHtow oF 6K, nasiiBaemyio %D. + Meaenpiit axzanna Hemoabayer AMEND %D_ MecTe ¢ mpocToit cKonbasieit cpeaHeri aTOFt AHHH, HaaitBaeMori NejAenttEmM D. + Coctosne nepexynreaHoctu o6s14H0 onpe- Aeasierca Ha yposne 70-80%, + Cocrosmme nepenpoaanmocrs oGxisnto onpe- Aeasiercs Ha ypoptte 30-20%, HingurliassOrsetet Ana sametox Ha KOHTponbHbIe Bonpocet 1. Onpegeaie, BepHt HAH Ke BepHBI cAeayro- uyue yrnepyrAeHs 06 HHAMKaTOpe OTHOCHTeAI- oii cHAxbt RSI Bepwo [Hesepuo A. Maukarop cpannusaer nenuylo Oymary © adipex v THBHOCTSWO Apyroil OymarK B mpourom B, Ecamt annus rpapaxa RSI MpoxoAHT muIIe ypoBH 80 | of Gymara cuwraetes mepexy mento C. Pacxorxaenie MeaKAy ApH Kerem text Ga30BOTO AKTH bai RStsacro cay ana | atopom pasnopota piatiKa, D. Take mogean, kak «rono- at HAeuIM, He OueHE 2aMer- v ut ua rpagpuxe RSI 2. Auarpasia, u206parxaiomas rpacuKit cro- xacTHecKoro ocuMAAsTopa %D, pasaeaena a cextopa A u B. 30 — o6paayes «Guinero 1 eeagerksero» pacxorxaennis, Tae «Gutubes HL TAe eMreanexcnen pacxoxeacrHe? vi ‘S05 B B= «Guten a ae 20% 3. Berane nponymennnie cnona: Tipu ncnoassonarnitit mnankaropa MACD cur- HAA K MpoA@Ke BOSHIKaT, KOTAA GEICTPAK A inst MACD nepecexaer cursaatiyio ammo 06e anni uNeI0r HOAOKIETe Hoe atiaverme, Yet fasimie ray nyacnoft amnmeit pouicxo,stt nepecesere, Tew CHABICe cxmrTa- © Textnecini ananns: Kype ann nawnnarounx HingurliassTT iced Cal) Beenenne 125 Teopus gonn Snnuorra wancna OnGonaysn 130 Tpaduxu Panna 134 Ynpaxnenna No noctpoeHnio rpadHKos: 138 Pesiome 139 Koutponbibie sonpoces 139 OGs0p npolipexvoro matepwana 141 Aononuutenbubie ucTOsHHKM wudopmaynn 142 Overs Ha KOHTponbHbIe BoNpocbt 143 AeAa AOWKHO 3ansTh Koro 60 Munyr yueGuoro npenen. Bos- MO2KHO, BEI CpapHTeck OuicTpee HAM He- CKOABKO Meqaeruee, Tone: yueGa — Mpouecc HiaMBHayansitstt REUTERS Texnnveckni ananns: Kypc AA HaNMHaIoLynx e Hingurliassie ee UL Ecau crasure Ha Away, TO 9T0 urpa; ECAH CTaBHTS Ha TPOIIKY HK, TO 9TO PasBAevexue; ecaHt Crasitrs Ha TOBBIMeHHe XAONKa Ha TPH NYHKTa, TO 9TO Guanec. Buaure passiny? 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