THERE are two major approaches to the analysis of stock market price prediction: Fundamental and technical analyses. Fundamental analysis is the approach of studying the overall economy, industry, financial conditions and management of companies to measure the intrinsic value of a particular security (please refer to [1] for a classical guide to fundamental analysis). This approach uses revenues, earnings, future growth, return on equity, profit margins, and other data to determine a company’s underlying value and the potential for future growth of its security. Technical analysis, on the other hand, does not attempt to measure a security’s intrinsic value. This approach evaluates securities by analyzing statistics generated by market activity, such as past prices and volume (please refer to [2] for a modern guide to technical analysis). The pioneering technical analysis technique is attributed to C. Dow back in the late 1800s [3]. The efficient market hypothesis (EMH) [4] is generally interpreted to imply that the technical approach to forecasting stock price is invalid, but recent literature presented from a behavioral finance perspective [5] and statistical inference from computational algorithms [6] further exemplified the evidence on the predictability of financial market using technical analysis. Thus technical analysis has recently enjoyed a renaissance and most major brokerage firms publish technical commentary on the market and individual securities.