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    How rewarding is technical analysis? evidence from Singapore stock market

    Access Status
    Fulltext not available
    Authors
    Wong, W.
    Manzur, Meher
    Chew, Boon-Kiat
    Date
    2003
    Type
    Journal Article
    
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    Abstract

    This paper focuses on the role of technical analysis in signalling the timing of stock market entry and exit. Test statistics are introduced to test the performance of the most established of the trend followers, the Moving Average, and the most frequently used counter-trend indicator, the Relative Strength Index. Using Singapore data, the results indicate that the indicators can be used to generate significantly positive return. It is found that member firms of Singapore Stock Exchange (SES) tend to enjoy substantial profits by applying technical indicators. This could be the reason why most member firms do have their own trading teams that rely heavily on technical analysis.

    Citation
    Wong, Wing and Manzur, Meher and Chew, Boon-Kiat. 2003. How rewarding is technical analysis? evidence from Singapore stock market. Applied Financial Economics. 13 (7): pp. 543-551.
    Source Title
    Applied Financial Economics
    DOI
    10.1080/0960310022000020906
    ISSN
    09603107
    Faculty
    Curtin Business School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/17650
    Collection
    • Curtin Research Publications

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