Who or what does chartists refer to in the context of share price movements?

Chartists refer to analysts who utilize historical price movements and trading volumes to forecast future market trends. The primary belief held by chartists is that past market behavior tends to repeat itself, which allows them to identify patterns and signals that can inform trading decisions. They typically use various charting techniques and tools to analyze price movements, trends, and patterns, such as moving averages, support and resistance levels, and various chart formations.

This approach distinguishes chartists from other types of market participants. For example, those who rely on emotional behaviors would not depend on analytical techniques but rather on instinct, which does not produce reliable trading predictions. Similarly, regulators play a role in monitoring and enforcing financial laws rather than predicting price movements. Economists focus on fundamental values, including economic indicators and company performance, which is a different analytical approach that often does not consider price patterns in the same way that chartists do. Therefore, the option that aligns with the definition of chartists is indeed the one that highlights their predictive capabilities using past data.