^&* 1. Technical Analysis (LO4, CFA1) Which of the following is a basic assumption of technical analysis in contrast to fundamental analysis?

a. Financial statements provide information crucial in valuing a stock.

b. A stock’s market price will approach its intrinsic value over time.

c. Aggregate supply and demand for goods and services are key determinants of stock value.

d. Security prices move in patterns, which repeat over long periods.