An Empirical Study on the Effectiveness of Technical Analysis in China's Stock Markets

DOI

10.2991/msmi-17.2017.31How to use a DOI?

Keywords

technical analysis; market effectiveness; bootstrap nonparametric test

Abstract

The weak form of the EMH proclaims that it is not possible to sustain above normal returns over the long run. However, in recent years, scholars have found that technical analysis trading strategy can obtain significant excess returns in different markets. In this paper, we use the CSI 300 Index, Moving average trading strategy, KDJ strategy and MACD strategy to study the weak effective of China's stock market. Through empirical research, it is concluded that the some technical analysis can obtain significant excess returns in the short term, and the Chinese stock market has not yet reached the weak efficient market.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Kai Chen
AU  - Guangping Hui
PY  - 2017/06
DA  - 2017/06
TI  - An Empirical Study on the Effectiveness of Technical Analysis in China's Stock Markets
BT  - Proceedings of the 2017 International Conference on Management Science and Management Innovation (MSMI 2017)
PB  - Atlantis Press
SP  - 134
EP  - 140
SN  - 2352-5428
UR  - https://doi.org/10.2991/msmi-17.2017.31
DO  - 10.2991/msmi-17.2017.31
ID  - Chen2017/06
ER  -