Stars, crows, and doji: The use of candlesticks in stock selection
Marshall J. Horton
The Quarterly Review of Economics and Finance, 2009, vol. 49, issue 2, 283-294
This paper examines Japanese Candlestick methods of technical analysis for 349 stocks. Using more data and alternative tests, the study contradicts an earlier article in the literature, finding little value in the use of candlesticks and providing more support for the weak form of the Efficient Markets Hypothesis.
Keywords: Market; efficiency; Candlestick; Technical; analysis; Charting (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:49:y:2009:i:2:p:283-294
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