Bloomberg is proud to accept two awards from The Technical Analyst in 2013 – one for Best Data Provider and one for Best Technical Analysis Platform. (The Technical Analyst is a publication for trading and investment professionals.)
Everyone knows what data is, but let me take a moment to explain technical analysis and why traders and analysts value it. Technical analysis is about identifying patterns in financial markets. It is a systematic way of studying the past by analyzing an instrument’s price and volume history in order to infer future moves.
The best way to analyze how something has traded in the past and make inferences on how it will trade in the future is to combine visual representations with statistical and quantitative analysis. This is where Bloomberg comes in. For those of you who use the Bloomberg Professional service, you know that anything that has been traded can be charted and analyzed.
Bloomberg has been improving its technical analysis capabilities steadily over the past few years and now includes functionality including quantitative historical testing, intraday alerts (so you don’t have to wait until market close for technical study results), and the ability to import charts from Bloomberg and manipulate them in Microsoft Office. Also, we let you do this not just at the individual stock level but also at the global index level where you can analyze more than 70 specific components to get a sense of how the market in performing.
The idea of technical analysis may be new to some and commonplace to others, but we feel it is important to continue to innovate so that we can provide the very best solutions for those who use it.
Eugene Sorenson, Global Product Manager for Data Visualization, Bloomberg