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===Comparison with fundamental analysis=== Contrasting with technical analysis is ''[[fundamental analysis]]'': the study of economic and other underlying factors that influence the way investors price financial markets. This may include regular corporate metrics like a company's recent [[EBITDA]] figures, the estimated impact of recent staffing changes to the [[board of directors]], geopolitical considerations, and even scientific factors like the estimated future effects of [[global warming]]. Pure forms of technical analysis can hold that prices already reflect all the underlying fundamental factors. Uncovering future trends is what technical indicators are designed to do, although neither technical nor fundamental indicators are perfect. Some traders use technical or fundamental analysis exclusively, while others use both types to make trading decisions.<ref>{{harvp|Elder|1993|loc=Part II: "Mass Psychology"; Chapter 17: "Managing versus Forecasting", pp. 65β68}}</ref><ref name="Wilmott">{{cite book|first1=Paul|last1=Wilmott|author1-link=Paul Wilmott|title=Paul Wilmott Introduces Quantitative Finance|publisher=Wiley|year=2007|isbn=978-0-470-31958-1|chapter = Appendix B, esp p. 628}}</ref>
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