Does the Chart Pattern Work in Asian Markets?
Weihong Huanga and Wanying Wangb, aNanyang Technological University, School of Humanities and Social Sciences, HSS-04-61, Nanyang Avenue, Singapore 639 798, Singapore, bHead Office, Bank of China, 1 Fuxingmen Neidajie, Beijing, 1000818, PR China, awhhuang@ntu.edu.sg; wang0589@e.ntu.edu.sg
Abstract
Though chart analysis has gained huge popularity among practitioners for centuries, it is still known as “voodoo finance” to academicians. To further justify technical analysis, this chapter applies the newly introduced “Perpetually Important Point” (PIP) identification process to empirically examine the informational role of the five most popular chart indicators in Asian stock markets. ...
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