Efficient Markets, Behavioral Finance and a Statistical Evidence of the Validity of Technical Analysis

Marco Antonio Penteado

Papers from arXiv.org

Abstract: This work tried to detect the existence of a relationship between the graphic signals - or patterns - observed day by day in the Brazilian stock market and the trends which happen after these signals, within a period of 8 years, for a number of securities. The results obtained from this study show evidence of the existence of such a relationship, suggesting the validity of the Technical Analysis as an instrument to predict the trend of security prices in the Brazilian stock market within that period.

Date: 2013-02
New Economics Papers: this item is included in nep-fmk
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1302.1228

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