We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
THE PREDICTIVE POWER OF CANDLESTICK PRICE PATTERNS IN THE BALTIC STOCK MARKET.
- Authors
Lieksnis, Raimonds
- Abstract
The article investigates the profitability of the quantitative market timing technique of the candlestick technical analysis in the Baltic stock market (BSM). Despite being used in Japan for centuries and nowadays having many followers amongst market practitioners globally, there is still little research documenting its profitability in the Western equity markets and no research has been done so far for the Baltic stock market in particular. Eight 3-day reversal patterns are tested for 69 stocks listed in the official and second list of Baltic stock exchanges. The lack of freely available opening price quotes up to January 2005 limited the ability to carry out statistically valid tests. The low market liquidity did not bring about any significant growth or reduction in prices nor respective changes in the trend. The resulting dataset shows no evidence of profitable applications for candlestick patterns in the BSM.
- Publication
Economics & Business, 2008, Vol 17, p68
- ISSN
2256-0386
- Publication type
Academic Journal