- Title
- The effectiveness of technical analysis as an investment instrument in the financial markets
- Creator
- Jacobs, Marius Stephen
- Subject
- Technical analysis (Investment analysis) -- South Africa
- Subject
- Financial security -- South Africa
- Subject
- Futures -- South Africa
- Date Issued
- 2016
- Date
- 2016
- Type
- Thesis
- Type
- Masters
- Type
- MCom
- Identifier
- http://hdl.handle.net/10948/7473
- Identifier
- vital:21785
- Description
- This study was conducted in order to assess the effectiveness of technical analysis as a tool for financial security price forecasting. This form of analysis was examined so as to determine whether or not any benefit could be attributed to an investor or financial trader who applied it. Two technical trading strategies, consisting of three indicators each, were applied to fifteen financial securities over a five year period; so as to observe the price forecasting signals offered by the technical indicators. The resulting technical signals offered by the trading strategies were recorded and assessed for accuracy; allowing for various observations to be made; namely the forecasting precision of the technical strategies, the application of technical analysis in the equity and foreign exchange markets, the use of single or multiple technical indicators within a strategy, and the combining of technical analysis with fundamental analysis. The results indicated that the effective implementation of technical analysis could very well benefit the price forecasting practices of financial analysts and investors. However, it was determined that a fair amount of discretion on behalf of the analyst would be required when examining the signals offered by the technical indicators for the purpose of predicting financial security price movements.
- Format
- xii, 335 leaves
- Format
- Publisher
- Nelson Mandela Metropolitan University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela Metropolitan University
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