Technical Analysis Seems To Be A Valuable Investment Tool In The Athens And Frankfurt Stock Exchanges

Michael Glezakos and Petros Mylonas

European Research Studies Journal, 2003, vol. VI, issue 1-2, 169-192

Abstract: This study investigates the forecast power of technical analysis in the equity markets by applying simple technical trading rules to the Athens General Index and DAX. The results produce evidence that technical analysis is a valuable investment tool, especially in the case of the Athens Stock Exchange. Moreover, the ability of simple moving average rules appears to be dominant in the last few years, when excess returns are earned over a naive buy-and-hold strategy even after the deduction of transaction costs.

Keywords: Technical analysis; stock exchange; effective investment (search for similar items in EconPapers)
JEL-codes: F21 G15 (search for similar items in EconPapers)
Date: 2003
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.ersj.eu/repec/ers/papers/03_12_p11.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:vi:y:2003:i:1-2:p:169-192

Access Statistics for this article

More articles in European Research Studies Journal from European Research Studies Journal
Bibliographic data for series maintained by Marios Agiomavritis ().