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Technical Analysis (technical + analysis)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	73%

Selected Abstracts

WHAT DO WE KNOW ABOUT THE PROFITABILITY OF TECHNICAL ANALYSIS?

JOURNAL OF ECONOMIC SURVEYS, Issue 4 2007
Cheol-Ho Park
Abstract The purpose of this paper is to review the evidence on the profitability of technical analysis. The empirical literature is categorized into two groups, ,early' and ,modern' studies, according to the characteristics of testing procedures. Early studies indicate that technical trading strategies are profitable in foreign exchange markets and futures markets, but not in stock markets. Modern studies indicate that technical trading strategies consistently generate economic profits in a variety of speculative markets at least until the early 1990s. Among a total of 95 modern studies, 56 studies find positive results regarding technical trading strategies, 20 studies obtain negative results, and 19 studies indicate mixed results. Despite the positive evidence on the profitability of technical trading strategies, most empirical studies are subject to various problems in their testing procedures, e.g. data snooping, ex post selection of trading rules or search technologies, and difficulties in estimation of risk and transaction costs. Future research must address these deficiencies in testing in order to provide conclusive evidence on the profitability of technical trading strategies. [source]

"Seeing the Market": Technical Analysis in Trading Styles

JOURNAL FOR THE THEORY OF SOCIAL BEHAVIOUR, Issue 2 2006
MARGERY MAYALL
First page of article [source]

Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical Analysis

THE JOURNAL OF FINANCE, Issue 5 2003
Carol L. Osler Associate Professor
This paper documents clustering in currency stop-loss and take-profit orders, and uses that clustering to provide an explanation for two familiar predictions from technical analysis: (1) trends tend to reverse course at predictable support and resistance levels, and (2) trends tend to be unusually rapid after rates cross such levels. The data are the first available on individual currency stop-loss and take-profit orders. Take-profit orders cluster particularly strongly at round numbers, which could explain the first prediction. Stop-loss orders cluster strongly just beyond round numbers, which could explain the second prediction. [source]

Extended evidence on the use of technical analysis in foreign exchange

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 4 2006
Thomas Gehrig
Abstract This work extends earlier survey studies on the use of technical analysis by considering flow analysis as a third form of information production. Moreover, the survey covers FX dealers and also the rising fund managers. Technical analysis has gained importance over time and is now the most equally spread kind of analysis. It has by far the greatest importance in FX dealing and is second in fund management. Charts are used for shorter-term forecasting horizons while flows dominate at the shortest-term and fundamentals at longer horizons. Preferred users of each kind of analysis exhibit different views about market frictions. Copyright © 2006 John Wiley & Sons, Ltd. [source]

Overview of DVB-RCS+M and its development

INTERNATIONAL JOURNAL OF SATELLITE COMMUNICATIONS AND NETWORKING, Issue 3-4 2010
Harald Skinnemoen
Abstract The use of DVB-S and DVB-RCS for conducting two-way communications from small satellite terminals has become well established in Europe and elsewhere. During the development of DVB-RCS the possibility of limited use for satellite terminals that were moving was considered in January 2004 and incorporated into the Guideline document associated with the Standard in April 2005. It was noted, however, that this matter could be addressed further as a future development. This paper addresses the steps that have been taken since then to realize this objective. During the last few years, it has been shown that the DVB-S2/DVB-RCS specifications are good candidate baselines for the efficient implementation of broadband services to mobile users. Results of these studies were gathered in a study mission report from the TM-RCS ad hoc group. It was demonstrated that both forward and return channel waveforms are impacted by the mobile usage, and should be addressed in the scope of an update of the DVB-RCS standard. Technical analysis identified that DVB-RCS, as it had been originally designed for fixed satellite services, provided most of the features required by mobile applications above 5,GHz, and could be turned into a competitive solution with a few carefully crafted modifications. Subsequent activities within the TM-RCS Group have led to an efficient and robust standard that incorporates mobility more definitely into version 1.5.1 of the DVB-RCS specifications, along with appropriate detailed ,Guidelines' documentation giving expanded description of the standard and its use and application. Copyright © 2009 John Wiley & Sons, Ltd. [source]

Gottlob Frege, One More Time

HYPATIA, Issue 4 2000
CLAUDE IMBERT
Frege's philosophical writings, including the "logistic project," acquire a new insight by being confronted with Kant's criticism and Wittgenstein's logical and grammatical investigations. Between these two points a non-formalist history of logic is just taking shape, a history emphasizing the Greek and Kantian inheritance and its aftermath. It allows us to understand the radical change in rationality introduced by Gottlob Frege's syntax. This syntax put an end to Greek categorization and opened the way to the multiplicity of expressions producing their own intelligibility. This article is based on more technical analyses of Frege which Claude Imbert has previously offered in other writings (see references). [source]

Fundamental and technical analysis: substitutes or complements?

ACCOUNTING & FINANCE, Issue 1 2009
Jenni L. Bettman
G12; G14; M41 Abstract Although the fundamental and technical analysis literatures invest considerable effort in assessing their respective ability to explain share prices, they invariably do so without reference to each other. In this context, we propose an equity valuation model integrating both fundamental and technical analysis and, in doing so, recognize their potential as complements rather than as substitutes. Testing confirms the complementary nature of fundamental and technical analysis by showing that, although each performs well in isolation, models integrating both have superior explanatory power. While our findings relate to the valuation of shares, they also have implications for other valuation exercises. [source]

Announcement effects on exchange rates

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 1 2009
Mikael Bask
Abstract An asset pricing model for exchange rate determination is presented, where technical analysis in currency trade is incorporated in the form of a moving average technique. As a result, the model has jmax+1 rational expectations equilibria (REE), where jmax is large, since jmax past exchange rates affect the current rate due to technical analysis. There is, however, a unique REE that is economically relevant, and focusing on this REE, it is shown that the exchange rate is much more sensitive to a change in money supply than when technical analysis is absent in currency trade. This result is important since it sheds light on the so-called exchange rate disconnect puzzle in international finance. Copyright © 2008 John Wiley & Sons, Ltd. [source]

Chartism and exchange rate volatility,

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 3 2007
Mikael Bask
Abstract The purpose of this paper is to implement theoretically, the observation that the relative importance of fundamental versus technical analysis in the foreign exchange market depends on the time horizon in currency trade. For shorter time horizons, more weight is placed on technical analysis, while more weight is placed on fundamental analysis for longer horizons. The theoretical framework is the Dornbusch overshooting model, where moving averages is the technical trading technique used by the chartists. The perfect foresight path near long-run equilibrium is derived, and it is shown that the magnitude of exchange rate overshooting is larger than in the Dornbusch model. Specifically, the extent of overshooting depends inversely on the time horizon in currency trade. How changes in the model's structural parameters endogenously affect this time horizon and the magnitude of overshooting along the perfect foresight path are also derived. Copyright © 2007 John Wiley & Sons, Ltd. [source]

Extended evidence on the use of technical analysis in foreign exchange

WHAT DO WE KNOW ABOUT THE PROFITABILITY OF TECHNICAL ANALYSIS?

Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical Analysis

Techno-Economic Analysis of Hydrazine Hydrate Technologies

CHEMICAL ENGINEERING & TECHNOLOGY (CET), Issue 9 2010
P. Nikhitha
Abstract The increasing demand of current world production for hydrazine hydrate emphasizes the need to focus on the techno-economic analysis of the existing technologies. Three processes, namely the Raschig process, urea process, and peroxide-ketazine process, are chosen for technical analysis followed by cost estimation and economic assessment. The technical part involves the development of flow sheets, process design, carrying out of calculations as well as estimation of raw materials, labor, utilities, and process equipment by sizing and other sub-components. The economic part comprises the estimation of working capital, fixed capital investment, total capital investment, and total production costs. Economic parameters like net profits, rate of return, payback period, and break-even point are also estimated to perform economic analysis. The results obtained from technical analysis and economical feasibility studies show that the peroxide-ketazine-based hydrazine hydrate technology has clear advantages in terms of raw material consumption and economic competitiveness. [source]