There are two basic philosophies for analyzing the stock market, one is fundamental analysis, the other is technical analysis. Fundamental analysis looks at the economic and financial factors that influence a business (financial statements, future projections, etc.). Technical analysis, on the other hand, exams the price movement of a security.
Technical analysis looks at the price trends (or directions) that a security has taken. The thinking is that prices move in a pattern and that pattern can be charted and trends will appear that help analysts decide on future investments. These charts can look at a variety of statistics. Examples are candlestick chart (measuring high and low prices each day) point and figure charts, support and resistance charts to name just a few.
The goal of technical analysis is to find trends (upward trend, downward trend, or even moving sideways), and using that information to work with the trends not against them.