Lost Decade, Market Efficiency and Technical Trading Rules: Evidence from Greece

Massoud Metghalchi

Journal of Prediction Markets, 2015, vol. 9, issue 1, 15-32

Abstract: We apply several well-known technical indicators to the daily data for the Athens Composite Share Price from 1/2/2000 to 12/31/2012. Our findings strongly support the predictive power of technical trading rules; further, we ask whether this predictive power of technical analysis can be exploited to beat the profitability of the buy-and-hold strategy considering both transaction costs and risk. We conclude that it is possible to beat the buy-and-hold strategy even considering transaction costs and risk.

Keywords: Technical Analysis; Trading Indicators; Market Efficiency (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2015
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