Efficient Markets, Behavioral Finance and a Statistical Evidence of the Validity of Technical Analysis
AbstractThis 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.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1302.1228.
Date of creation: Feb 2013
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