Is Technical Analysis Profitable on Athens Stock Exchange?

Mega Journal of Business Research Volume 2018, Article ID 61, 24 Pages

20 Pages Posted: 7 Feb 2018

See all articles by Panagiotis Rousis

Panagiotis Rousis

National and Kapodistrian University of Athens - Department of Economics

Spyros Papathanasiou

National and Kapodistrian University of Athens

Date Written: January 30, 2018

Abstract

In this paper, we incorporate a technical analysis strategy of the Greek Stock Market. These are the strategies used by most professionals and significant players in the field of investment analysis on the Greek market. Data were collected from most of the investment companies in Greece. The most frequently used techniques of technical analysis such as RSI, MACD and Stochastic, including the use of patterns and candlestick charts, will be mentioned herein. The methods employed include the use of a questionnaire and statistical analysis. This research was conducted between 22 November 2014 and 22 December 2014. The results provide a strong evidence of the profitability of technical trading rules and contradict the efficient market hypothesis.

Keywords: Technical analysis, MACD, RSI, Stochastic, Bollinger bands, Trading strategy

JEL Classification: G1, G2, G02

Suggested Citation

Rousis, Panagiotis and Papathanasiou, Spyros, Is Technical Analysis Profitable on Athens Stock Exchange? (January 30, 2018). Mega Journal of Business Research Volume 2018, Article ID 61, 24 Pages, Available at SSRN: https://ssrn.com/abstract=3113140

Panagiotis Rousis

National and Kapodistrian University of Athens - Department of Economics ( email )

1, Sofokleous Str
Athens, GR- 10559
Greece

Spyros Papathanasiou (Contact Author)

National and Kapodistrian University of Athens ( email )

1, Sofokleous Str.
Athens, 10559
Greece

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