股票市场在本质上是剧烈波动的;因此，在对市场进行投资决策之前，分析股票市场的行为是很重要的。运用多种理论和原理对股票市场价格的行为进行评价，对某一特定股票的未来绩效进行有效预测。在这个问题上，尤金·法玛教授在很久以前就提供了扎实的概念知识(Agwuegbo, 2010)。此外，法玛教授所提出的理论和概念框架在这个时代仍然是相关的。教授充分强调了随机漫步理论。根据随机游动的理论，股票或证券价格水平的未来走势可以更有效地预测随机数字的范围。股票价格是随机变化的，因此，对股票价格的准确预测是不可能的(Banumathy和Azhagaiah, 2014)。在整个分配过程中，教授所提供的理论将被评估，并将与当前在股票市场做出决定的情景进行验证。
在文章的开头，作者对以往的普通股价格历史的程度提出了一个问题，可以用来对特定股票的未来价格进行有意义的预测。此外，根据作者的观点，有两种理论可以给出上述问题的答案。一些图表专家制定了第一个和第二个理论，这个理论被称为随机漫步理论(Beer, Watfa and Zouaoui, 2012)。有几种不同的图表理论支持预测股票未来的价格走势。然而，所有这些理论都很普遍，因为它们都创造了类似的基本预期。
The stock market is extensively volatile in nature; thus, it is important to analyse the behaviour of a stock market before making any decision on investment within the market. There are several theories and principles applied to evaluate the behaviour of the stock market price to make an effective prediction of the future performance of a specific stock. In this matter, Professor Eugene F. Fama provided solid conceptual knowledge in long before (Agwuegbo, 2010). Furthermore, the theories and conceptual framework given by Professor Fama are still relevant in this era. The professor provided adequate emphasis on the theory of random walks. According to the theory of random walks, the future journey of the price level of stock or security can more effectively predict by the range of collected random numbers. The stock prices use to change on a random basis and thus, to make any accurate prediction of the stock price is impossible (Banumathy and Azhagaiah, 2014). Throughout the assignment, the theories provided by the Professor will be evaluated and will be verified with current scenarios of making the decision in the stock market.
At the beginning of the article, the author kept a question about the degree of the previous history of common stock price which can be utilized to formulate a meaningful anticipation about the future price of that specific stock. Moreover, as per the author, there are two theories by which the answer of the question above can be given. Several chartists formulate the first and second theory which is referred to as the theory of random walks (Beer, Watfa and Zouaoui, 2012). There are several different chartist theories, which support in anticipating the future price behaviour of the stocks. However, all of these theories are common in the sense that they all create the similar types of basic anticipations.