A research on technical analysis
Investors, analysts, and speculators alike have long searched for investment strategies that will accurately predict future price trends for a secured return. This research examines the effectiveness of Technical Analysis on buy and hold strategies, with a focus on the Ichimoku Kinko Hyo and the MAC...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/48326 |
| _version_ | 1811680222609670144 |
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| author | Lai, Jiawen He, Zhi Tang, Nicholas |
| author2 | Low Buen Sin |
| author_facet | Low Buen Sin Lai, Jiawen He, Zhi Tang, Nicholas |
| author_sort | Lai, Jiawen |
| collection | NTU |
| description | Investors, analysts, and speculators alike have long searched for investment strategies that will accurately predict future price trends for a secured return. This research examines the effectiveness of Technical Analysis on buy and hold strategies, with a focus on the Ichimoku Kinko Hyo and the MACD indicators due to the popularity and employability among investors. We adopt an empirical approach for our study, gathering and analysing the trends on past market data of STI and SPDR STI
ETF(particularly price and volume) to come to our findings. Tests are conducted using hypothesis testing on daily price movements upon holding a position, with adjustments for practical trading
constraints such as look‐forward bias and untradeability of index. Further comparisons were made between Total Returns and Average Annual Returns between indicators and a buy‐and‐hold
approach. Evidence was found on the predictive ability of Tenkan‐Kijun, Chikou‐Price, and MACDZero signals over the full sample on the STI, although results were inconsistent across sub‐periods
and upon assessment of returns on the ETF. |
| first_indexed | 2024-10-01T03:21:37Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/48326 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T03:21:37Z |
| publishDate | 2012 |
| record_format | dspace |
| spelling | ntu-10356/483262023-05-19T05:41:37Z A research on technical analysis Lai, Jiawen He, Zhi Tang, Nicholas Low Buen Sin Nanyang Business School DRNTU::Business::Finance::Equity DRNTU::Business::Finance::Financial management Investors, analysts, and speculators alike have long searched for investment strategies that will accurately predict future price trends for a secured return. This research examines the effectiveness of Technical Analysis on buy and hold strategies, with a focus on the Ichimoku Kinko Hyo and the MACD indicators due to the popularity and employability among investors. We adopt an empirical approach for our study, gathering and analysing the trends on past market data of STI and SPDR STI ETF(particularly price and volume) to come to our findings. Tests are conducted using hypothesis testing on daily price movements upon holding a position, with adjustments for practical trading constraints such as look‐forward bias and untradeability of index. Further comparisons were made between Total Returns and Average Annual Returns between indicators and a buy‐and‐hold approach. Evidence was found on the predictive ability of Tenkan‐Kijun, Chikou‐Price, and MACDZero signals over the full sample on the STI, although results were inconsistent across sub‐periods and upon assessment of returns on the ETF. BUSINESS 2012-04-05T01:17:03Z 2012-04-05T01:17:03Z 2012 2012 Final Year Project (FYP) http://hdl.handle.net/10356/48326 en Nanyang Technological University 54 p. application/pdf |
| spellingShingle | DRNTU::Business::Finance::Equity DRNTU::Business::Finance::Financial management Lai, Jiawen He, Zhi Tang, Nicholas A research on technical analysis |
| title | A research on technical analysis |
| title_full | A research on technical analysis |
| title_fullStr | A research on technical analysis |
| title_full_unstemmed | A research on technical analysis |
| title_short | A research on technical analysis |
| title_sort | research on technical analysis |
| topic | DRNTU::Business::Finance::Equity DRNTU::Business::Finance::Financial management |
| url | http://hdl.handle.net/10356/48326 |
| work_keys_str_mv | AT laijiawen aresearchontechnicalanalysis AT hezhi aresearchontechnicalanalysis AT tangnicholas aresearchontechnicalanalysis AT laijiawen researchontechnicalanalysis AT hezhi researchontechnicalanalysis AT tangnicholas researchontechnicalanalysis |