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On candlestick
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klooloola
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23-Apr-2007 18:00
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From http://papers.ssrn.com/sol3/papers.cfm?abstract_id=980583 Abstract: We investigate the profitability of the quantitative market timing technique of candlestick technical analysis in the U.S. equity market. Despite being used for centuries in Japan and now having a wide following amongst market practitioners globally, there is little research documenting its profitability or otherwise. We find that these strategies are not generally profitable when applied to large U.S. stocks. Basing trading decisions solely on these techniques does not seem sensible but we cannot rule out the possibility that they compliment some other market timing techniques. |
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