Τεχνική ανάλυση και λήψη επενδυτικών αποφάσεων
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Keywords
Τεχνική ανάλυση ; Επενδύσεις ; Μετοχές ; Διαγράμματα ; Δείκτες ; Ταλαντωτές ; Διαγραμματικοί σχηματισμοί ; Τάσεις ; Όγκος ; Θεωρία του Dow ; Technical analysis ; Investments ; Stocks ; Charts ; Indicators ; Oscillators ; Chart patterns ; Trends ; Volume ; Dow TheoryAbstract
This papers presents Technical Analysis as a tool for decision making investment.
Initially, Dow Theory is presented and the principles on which Technical Analysis is based
on. Then a comparison is made between the two known methods of stock assessment,
namely Fundamental and Technical Analysis.
Furthermore, there is a breakdown of the basic concepts and tools on which technical
analysts (chartists) rely on. Likewise, there is an extensive reference to the Chart Analysis
and more particularly to the mostly used chart types and to the widely recognized chart
patterns in Technical Analysis.
Finally, there is an analysis and interpretation of the most widely used indicators and
oscillators and their usefulness
In the practical part of the paper is implementation of some investment strategies based
on methods and tactics of technical analysis. The implementation of these strategies was
tested on four general indexes of United States, S & P 500, DOW 30, NASDAQ and
RUSSELL 2000, and also on a general index of Japan, Nikkei 225. The results of these
strategies were compared with the 'classic' Buy & Hold Strategy for further evaluation of
these methods.