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If you go back to the CFA materials or any academic Ivory Tower info in finance you can find, you will find that TA is a subset of FA. You dont get to choose that fact or not.

This is not the usual definition of fundamental analysis (FA), which would more appropriately be called business analysis, involves looking at properties of a business (profits, debt, future value of assets, competitive forces, etc.), with an eye to estimating the value of the business.

Technical analysis (TA), a term whose meaning is impossible to guess (since it doesn't specify which technique will be used), is traditionally used to refer to techniques where the nature of the business is not examined, but rather the patterns of price movements.

This is a standard description of the two definitions: . The CFA Institute says you can combine the two, but not that one is part of the other:

It doesn't seem logical to think of TA as a subset of FA, in my opinion, and I have never seen any credible source where it is thought of this way. Can anyone find one? You get to choose which you do, or you can do both, but you don't get to choose what the words mean.

Regards, DTM
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