  This work tried to detect the existence of a relationship between the graphic
signals - or patterns - observed day by day in the Brazilian stock market and
the trends which happen after these signals, within a period of 8 years, for a
number of securities. The results obtained from this study show evidence of the
existence of such a relationship, suggesting the validity of the Technical
Analysis as an instrument to predict the trend of security prices in the
Brazilian stock market within that period.
