Sometimes you'll hear the term technical analysis being used. In it's simplest form it's looking at a chart and seeing the price history of a share. But a chart also displays the human emotions that have gone into the price of a share and how they linger.
The twitter thread below explains it quite elegantly.
The messiness is all the emotion you are seeing in the market. This is what makes these specific areas more important than others. People have certain feelings around specific prices. Almost like memories. Pain, happiness, regret, fear, etc. All heightened around these zones.
— Ian McMillan (@the_chart_life) February 9, 2019
That's why technical analysis, at the end of the day, is really just human behavior. That's all it is. Bottom line. Data of human behavior. It's literally just tracking what humans are doing. And since humans make emotional decisions, well, it shows up on a price chart.
— Ian McMillan (@the_chart_life) February 9, 2019