Testing Technical Anomalies in Athens Stock Exchange
European Research Studies Journal, 9, 3-4, pp 75-90 (2006).
16 Pages Posted: 11 Sep 2014
Date Written: 2006
The purpose of this paper is to investigate the existence of historical Market anomalies in the Athens Stock Market (ASE). The market anomalies that are going to be explored are technical ones concerning the trading rules of the various types of moving averages.
The above anomalies were observed in most developed and developing markets. This study will investigate these effects for the most important index of the Athens market, the Athens General Index. The data used are for the period from 1/1/1990 to 31/12/2004. Overall, our results confirm the existence of technical anomalies in ASE and provide strong support for profitability of those technical trading rules.
Keywords: Stock markets, technical anomalies, bootstrap.
JEL Classification: G12, G15
Suggested Citation: Suggested Citation