کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
976038 1479854 2016 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Are candlestick trading strategies effective in certain stocks with distinct features?
ترجمه فارسی عنوان
آیا استراتژی های تجاری شمع سازی در سهام خاص با ویژگی های متفاوتی موثر هستند؟
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

While investors in the west are generally skeptical about the reliability of the candlestick technical analysis, this technique is commonly used in some Asian equity markets in short-term speculative investments. This paper examines the effectiveness of five different candlestick reversal patterns in predicting short-term stock movements. Using the two Chinese exchanges' data from 1999 to 2008, our statistical analysis suggests that bearish harami, and cross signals perform well in predicting head reversals for stocks of low liquidity, while bullish harami, engulfing, and piercing patterns were profitable when applied to highly liquid, small companies' stocks.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Pacific-Basin Finance Journal - Volume 37, April 2016, Pages 116–127
نویسندگان
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