PROFITABILITY OF THE MOVING AVERAGES TECHNICAL TRADING RULES IN AN EMERGING STOCK MARKET-A STUDY OF INDIVIDUAL STOCKS LISTED ON PAKISTAN STOCK EXCHANGE
Muhammad Arif (),
Muddasar Hasan (),
Abu Bakr (),
Muhammad Ziaullah () and
Muhammad Ali Tarer ()
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Muhammad Arif: Shaheed Benazir Bhutto University, Shaheed Benazirabad
Muddasar Hasan: Massey University, New Zealand
Abu Bakr: Massey University, New Zealand,
Muhammad Ziaullah: Department of Business Administration, Ghazi University, D.G. Khan
Muhammad Ali Tarer: Department of Sociology, Ghazi University, D.G. Khan.
IBT Journal of Business Studies (JBS), 2018, vol. 14, issue 2, 14-6
This paper investigates the gainfulness of moving averages (MA) timing method over the purchase and hold procedure for single stocks deal in Pakistan Stock Exchange. We used (Han et al., 2013) approach of single stock returns and indeterminate evidence of MA timing methodology insightful ability to increase higher returns over the strategy of purchase and hold. In addition, we report market risk-adjusted returns to expel any market development impacts and apply elective moving averages lag lengths to check the robustness of our outcomes. We look at that individual stock returns are noisier than portfolio returns and the fundamental technical exchanging principle of moving average don't be able to anticipate single stock returns. We propose the utilization of more perplexing trading rules in future investigations to determine the gainfulness of technical trading rules in individual stocks
Keywords: Individual stocks; moving averages; technical analysis (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:14:y:2018:i:2:p:14-6
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