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Investing strategies as continuous rising (falling) share prices released

Manhwa Wu (), Paoyu Huang () and Yensen Ni ()
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Manhwa Wu: Ming Chuan University
Paoyu Huang: Soochow University
Yensen Ni: Tamkang University

Journal of Economics and Finance, 2017, vol. 41, issue 4, 763-773

Abstract: Abstract We argue that continuous rising (falling) share prices might cause herding behaviors due to investors’ sentiments aroused. To my best of our understanding, we argue that this study pioneers to explore the trading performance after continuous rising (falling) prices, which might contribute to the existing literature in finance. By employing the constituent stocks of DJ 30, FTSE 100, and SSE 50 as our samples, we reveal that contrarian strategies are proper for continuous falling prices instead of continuous rising prices. We argue that the results reveled might benefit for investors to trade these constituents’ stocks.

Keywords: Continuous rising (falling) prices; Momentum strategies; Herding behaviors; Contrarian strategies; Investors’ sentiments (search for similar items in EconPapers)
JEL-codes: G02 G11 G14 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:spr:jecfin:v:41:y:2017:i:4:d:10.1007_s12197-016-9377-3