Profitability of the On-Balance Volume Indicator

William Wai Him Tsang () and Terence Tai Leung Chong
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William Wai Him Tsang: Department of Economics, The Chinese University of Hong Kong

Economics Bulletin, 2009, vol. 29, issue 3, 2424-2431

Abstract: In the literature, there is a lack of empirical studies documenting the profitability of volume-based technical indicators. This paper evaluates the profitability of the On-Balance Volume (OBV) trading rule. Our result shows that the OBV trading rule is increasingly profitable and rewards investors with notable returns in the stock markets of Greater China.

Keywords: On-Balance Volume; Moving Average; Market Efficiency. (search for similar items in EconPapers)
JEL-codes: G0 G1 (search for similar items in EconPapers)
Date: 2009-09-24
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Citations: View citations in EconPapers (5)

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