TECHNICAL TRADING RULES IN THE TEHRAN STOCK EXCHANGE

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SINAYI H.A.; KHAN BABAEI J.

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Paper Information

Journal: JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES Year:2006 | Volume:6 | Issue:22 Page(s): 57-82

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Title

TECHNICAL TRADING RULES IN THE TEHRAN STOCK EXCHANGE

Author(s)

SINAYI H.A. | KHAN BABAEI J. | Issue Writer Certificate

Keywords

TECHNICAL ANALYSISQ3

BUY AND HOLD STRATEGYQ3

MOVING AVERAGE RULEQ3

EFFICIENT MARKET HYPOTHESISQ3

Abstract

The study aims at determining whether the tools and techniques of TECHNICAL ANALYSIS are applicable to the Tehran Stock Exchange. The TECHNICAL ANALYSIS goes against the fulfillment of the weak form of the EFFICIENT MARKET HYPOTHESIS. In this research we have assessed one simple form of TECHNICAL ANALYSIS named by Dual Simple MOVING AVERAGE RULE. To that end, we have used daily data for prices of the 35 firms of the Tehran Stock Exchange, covering the one-year period from 21 March 2004 to 20 March 2005. In the present investigation, the continuation of the past prices is confirmed and so the weak form of the EFFICIENT MARKET HYPOTHESIS is refused. Also our findings indicate that in the one year periods, returns mean obtained from studying DSMA both with and without considering transactions costs is equal to that achieved from the BUY AND HOLD STRATEGY.

Cites

EVALUATION OF THE EFFECT OF USING TECHNICAL ANALYSIS INDEXES ON THE RETURNS OF INVESTORS

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APA: Copy

SINAYI, H.A., & KHAN BABAEI, J.. (2006). TECHNICAL TRADING RULES IN THE TEHRAN STOCK EXCHANGE . JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES, 6(22), 57-82. SID. https://sid.ir/paper/385967/en

Vancouver: Copy

SINAYI H.A., KHAN BABAEI J.. TECHNICAL TRADING RULES IN THE TEHRAN STOCK EXCHANGE . JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES[Internet]. 2006;6(22):57-82. Available from: https://sid.ir/paper/385967/en

IEEE: Copy

H.A. SINAYI, and J. KHAN BABAEI, “TECHNICAL TRADING RULES IN THE TEHRAN STOCK EXCHANGE ,” JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES, vol. 6, no. 22, pp. 57–82, 2006, [Online]. Available: https://sid.ir/paper/385967/en

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