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part b Dow Theory (Lesson 1) Major Trends have three Phases - The Accumulation phase, Second phase and Distribution phase. (a) Elaborate on the THREE

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Dow Theory (Lesson 1) Major Trends have three Phases - The Accumulation phase, Second phase and Distribution phase. (a) Elaborate on the THREE (3) phases. (6 marks) (b) With the help of a clearly labelled diagram, indicate the entry \& exit points of the THREE (3) types of investors in the three phases elaborated in part (a). (4 marks)

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