Radstock

Coordinates: 51°17′34″N 2°26′52″W / 51.2927°N 2.4477°W / 51.2927; -2.4477

Radstock is a town in Somerset, England, 9 miles (14 km) south west of Bath, and 8 miles (13 km) north west of Frome. It is within the unitary authority of Bath and North East Somerset and had a population of 5,620 according to the 2011 Census. Since 2011 Radstock has been a town council in its own right.

Radstock has been settled since the Iron Age, and its importance grew after the construction of the Fosse Way, a Roman road. The growth of the town occurred after 1763, when coal was discovered in the area. Large numbers of mines opened during the 19th century including several owned by the Waldegrave family, who had been Lords of the Manor since the English Civil War. Admiral Lord Radstock, brother of George, fourth Earl Waldegrave, took the town's name as his title when created a Baron.

The spoil heap of Writhlington colliery is now the Writhlington Site of Special Scientific Interest, which includes 3,000 tons of Upper Carboniferous spoil from which more than 1,400 insect fossil specimens have been recovered. The complex geology and narrow seams made coal extraction difficult. Tonnage increased throughout the 19th century, reaching a peak around 1901, when there were 79 separate collieries and annual production was 1,250,000 tons per annum. However, due to local geological difficulties and manpower shortages output declined and the number of pits reduced from 30 at the beginning of the 20th century to 14 by the mid-thirties; the last two pits, Kilmersdon and Writhlington, closed in September 1973. The Great Western Railway and the Somerset and Dorset Railway both established stations and marshalling yards in the town. The last passenger train services to Radstock closed in 1966. Manufacturing industries such as printing, binding and packaging provide some local employment. In recent years, Radstock has increasingly become a commuter town for the nearby cities of Bath and Bristol.

Technical analysis

In finance, technical analysis is a security analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.Behavioral economics and quantitative analysis use many of the same tools of technical analysis, which, being an aspect of active management, stands in contradiction to much of modern portfolio theory. The efficacy of both technical and fundamental analysis is disputed by the efficient-market hypothesis which states that stock market prices are essentially unpredictable.

History

The principles of technical analysis are derived from hundreds of years of financial market data. Some aspects of technical analysis began to appear in Joseph de la Vega's accounts of the Dutch markets in the 17th century. In Asia, technical analysis is said to be a method developed by Homma Munehisa during early 18th century which evolved into the use of candlestick techniques, and is today a technical analysis charting tool. In the 1920s and 1930s Richard W. Schabacker published several books which continued the work of Charles Dow and William Peter Hamilton in their books Stock Market Theory and Practice and Technical Market Analysis. In 1948 Robert D. Edwards and John Magee published Technical Analysis of Stock Trends which is widely considered to be one of the seminal works of the discipline. It is exclusively concerned with trend analysis and chart patterns and remains in use to the present. Early technical analysis was almost exclusively the analysis of charts, because the processing power of computers was not available for the modern degree of statistical analysis. Charles Dow reportedly originated a form of point and figure chart analysis.