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April 20, 2004 - Recognia recognized as a success story in automating technical analysis
Canada, 2004 — The April 2004 edition of the National Post Business Magazine included a special section for investors. The section reviewed the various types of investment research available to investors, with a heavy focus on the rapidly growing field of technical analysis.
Martin Pring, a leading proponent of technical analysis, believes that technical analysis is growing in popularity because investors' time horizons have been decreasing. Mr. Pring was quoted in the article saying, "The average holding period for stocks in 1991 was about 11 months. Today, it's down to about 2 months...". With those short timeframes, Mr. Pring says other sources of investor information, such as earnings numbers or quarterly reports, can be slow to emerge or even old news by the time they reach investors.
Another industry expert, Ron Meisels, is one of the founding fathers of the technical analysis movement in Canada. Mr. Meisels commented that "some forms of technical analysis can be extremely accurate for price targeting". The article goes on to say that "...without competition and the internet, technical analysts would be sitting down with a pencil and paper every day or week...", however, "today, the average investor has access to fully integrated software on web-based platforms that combine data from thousands of stocks...".
Recognia is held out as a leading example of one technology helping investors filter through the incredible amounts of information. Bruce Seago, COO of E*TRADE, states that "Recognia automates the process of pattern recognition. It takes out the labour-intensive component."
Reprinted with permission of the National Post, April 2004.
About Recognia Inc.
Recognia Inc., a privately held company founded in 2000, provides automated Technical Event® identification and chart pattern recognition to financial web sites, online brokerages and other trading institutions. Recognia has developed patented technology for chart pattern recognition and the identification of other types of technical formations. Recognia's technology is capable of recognizing patterns and other formations in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. Recognia also provides a range of delivery methods that allow brokers, and other organizations, to deliver this information to their clients and accountholders. Recognia also maintains an unrivaled historical database of information relating to chart patterns and other technical information, providing historical context and past performance information.
Contact:
Sean Church
President and CEO
416-697-8400
schurch@recognia.com
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