IDEAS home Printed from https://ideas.repec.org/p/arx/papers/1302.1228.html
   My bibliography  Save this paper

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

Author

Listed:
  • Marco Antonio Penteado

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.

Suggested Citation

  • Marco Antonio Penteado, 2013. "Efficient Markets, Behavioral Finance and a Statistical Evidence of the Validity of Technical Analysis," Papers 1302.1228, arXiv.org.
  • Handle: RePEc:arx:papers:1302.1228
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/1302.1228
    File Function: Latest version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
    2. Grossman, Sanford J & Stiglitz, Joseph E, 1980. "On the Impossibility of Informationally Efficient Markets," American Economic Review, American Economic Association, vol. 70(3), pages 393-408, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:1302.1228. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (arXiv administrators). General contact details of provider: http://arxiv.org/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.