Lost Decade, Market Efficiency and Technical Trading Rules: Evidence from Greece

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Published: Jul 31, 2015
DOI: https://doi.org/10.5750/jpm.v9i1.995
Keywords:
Technical Analysis Trading Indicators Market Efficiency

Main Article Content

Massoud Metghalchi
University of Houston - Victoria

Abstract

We apply several well-known technical indicators to the daily data for the Athens Composite Share Price from 1/2/2000 to 12/31/2012.  Our findings strongly support the predictive power of technical trading rules; further, we ask whether this predictive power of technical analysis can be exploited to beat the profitability of the buy-and-hold strategy considering both transaction costs and risk.  We conclude that it is possible to beat the buy-and-hold strategy even considering transaction costs and risk.

Article Details

Issue
Vol. 9 No. 1 (2015)
Section
Articles
Author Biography

Massoud Metghalchi, University of Houston - Victoria

Professor of finance, school of business administration, University of Houston victoria

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