Странное расхождение можно наблюдать, если открыть дневной график SPY в финвизе и stockcharts.
Согласно
stockcharts цена закрытия 26 января — $284.16
cогласно
finviz цена закрытия в тот день > $285
казалось бы, всего лишь $1.5 разницы — не так уж это и важно в конце концов!
однако, из-за неё возможны две противоположные по смыслу технические интерпретации:
по версии stockcharts 7 августа был новый хай и это бычий сигнал для рынка.
по версии finviz хай января так и не был пробит и это уже скорее медвежий сигнал.
какому источнику доверяете вы?
вопрос простой, а однозначного ответа на него нет. ))
это как если бы в одной истории матчей было указано, что
Реал обыграл Барселону в финале кубка 17 апреля, 2014, а
в другой истории — Барселона обыграла Реал 17 апреля 2014.
Абсурд! Но похоже на то, что в трейдинге cовершенно никого не смущает, что популярные сайты показывают графики одного и того же инструмента с разными all time highs.
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update:
stockcharts.com/articles/mailbag/2014/11/what-is-the-difference-between-adjusted-and-unadjusted-data.html
нашлось мнение, что
классический теханализ анализ на бесплатных графиках проводить вообще нельзя, так как их
искажают:
In making a buy-sell decision I would like to understand pure price action, and consider regular, ordinary course dividends as a separate, distinct, part of the analysis.
How then should a user like me treat chart that show prices that are adjusted (reduced) to reflect ordinary course, regular (periodic) dividends? How should I identify past highs and lows, draw support and resistance lines, and draw trend lines?
I have not been able to find a discussion of why the chart sites and it users have opted for charts and indicators based on stock prices that adjusted for ordinary course, regular dividends. None chart schools found on internet and none of the TA books go beyond a discussion of price adjustments for extra-ordinary distributions (special dividends, stock dividends, dividends in- kind), all of which are well understood and commonly accepted.
и предлагается решение:
It makes sense for stock price charts to adopt the same adjustment criteria as are used to adjust the “conversion price” at which convertible debt or convertible preferred shares may be exchanged for common shares. The standard anti-dilution features are applied after an event to leave the security holder with the same economic value as he had before the event.
The price is adjusted for
— stock splits (e.g. 2 for 1)
— stock consolidations (e.g. 1 for 2)
— “extraordinary dividends”, not paid in the normal course (e.g. stock dividends, corporate spin-offs by way of stock dividend, “one-time” cash dividends).
The price is not adjusted for regular, periodic, “ordinary-course” cash dividends.
You would only want a chart that adjusts price for ordinary-course dividends if you want a graphic representation of the slope (and perhaps the standard deviation) of total return. Such a chart shows actual prices only since the last dividend. All other prices shown on such a chart are lower than the real prices at which the shares actually traded. A chart that adjusts prices for ordinary-course dividends is simply inaccurate if you want to identify new price highs, new price lows, support, resistance, trend lines, price volatility, or use any technical indicator that describes what happened to prices or money flow.
1) историческая цена 26 января > 285
2) динамика графика говорит от том что 7 августа был новый хай
я пришёл к выводу, что полностью согласен с автором
getsatisfaction.com/tradingview/topics/adjusted_stock_prices_ordinary_course_regular_periodic_dividends
мы не против adjustments для splits и stockdividends, но adjustments для регулярных дивидендов — лишнее в ценовом анализе.
It makes sense for stock price charts to adopt the same adjustment criteria as are used to adjust the “conversion price” at which convertible debt or convertible preferred shares may be exchanged for common shares. The standard anti-dilution features are applied after an event to leave the security holder with the same economic value as he had before the event.
The price is adjusted for
— stock splits (e.g. 2 for 1)
— stock consolidations (e.g. 1 for 2)
— “extraordinary dividends”, not paid in the normal course (e.g. stock dividends, corporate spin-offs by way of stock dividend, “one-time” cash dividends).
The price is not adjusted for regular, periodic, “ordinary-course” cash dividends.
You would only want a chart that adjusts price for ordinary-course dividends if you want a graphic representation of the slope (and perhaps the standard deviation) of total return. Such a chart shows actual prices only since the last dividend. All other prices shown on such a chart are lower than the real prices at which the shares actually traded. A chart that adjusts prices for ordinary-course dividends is simply inaccurate if you want to identify new price highs, new price lows, support, resistance, trend lines, price volatility, or use any technical indicator that describes what happened to prices or money flow.
Does anyone have any comments on the more fundamental questions? How useful and reliable is conventional technical analysis when stock charts and indicators are based on prices adjusted (reduced) to reflect ordinary course, regular (periodic) dividends? How should we adapt traditional technical analysis to such charts and indicators?
это же шок новость. почему это не обсуждается)
по скорректированным графикам, которые показывают популярные сайты нельзя проводить классический тех анализ!
Я не заморачиваюсь, это не так важно для меня, т.к. общий тренд и вид паттерна мне гораздо более важен, чем это.