Glossary

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Advance-Decline Line:One of the most widely used indicators to measure the breadth of a stock market advance or decline. Each day or week the number of advancing issues is compared to the number of declining issues. If advances outnumber declines the net total is added to the

Annuity:Series of equal cash flows at regular intervals.

Average daily volume:The total trading volume of a stock over a certain period divided by the number of trading days in that period.

Average payable period :Payables / ((Cost of goods sold + selling & administrative expenses depreciation)/365)