What is the basic premise on which technical analysis is based, if it is not bothered about fundamentals of a stock?

Technical analysis is a science and hence it is based on a basic logic and an established and empirically tested body of knowledge. Let us look at the 3 basic premises on which the technicals are built. These form the basis on which the entire technical analysis is done by traders and chartists the world over. Technicals believe that markets discount everything, that patterns can be identified and that past patterns tend to repeat themselves in the future too.