Technical Analysis - Myth or Magic?

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Master's Thesis from the year 2010 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1, Sheffield Hallam University (Sheffield Business School), language: English, abstract: Table of contentTABLE OF FIGURES.....IGLOSSARY......II1. INTRODUCTION12. SHARE ANALYSIS AND ITS PREMISES52.1 CLASSIFICATION AND DEVELOPMENT52.2 DOW THEORY IN CORRESPONDENCE WITH TA62.2.1 The Averages Discount Everything (except Acts of God)62.2.2 The Three Trends72.2.3 The History repeats itself102.2.4 Criticism of the Dow Theory112.3 RANDOM WALK THEORY IN CORRESPONDENCE WITH BHS122.3.1 Criticism of the Efficient Market Hypothesis152.4 FUNDAMENTAL ANALYSIS172.5 TECHNICAL ANALYSIS VERSUS FUNDAMENTAL ANALYSIS173. METHODOLOGY203.1 TEST CONDITIONS203.2 TESTED INDICES234. INSTRUMENTS OF TECHNICAL ANALYSIS254.1 INDICATORS254.1.1 Moving Averages254.1.2 Moving Average Convergence Divergence264.1.3 Bollinger Bands274.2 OSCILLATORS284.2.1 The dilemma of Oscillators284.2.2 Momentum284.2.3 Relative Strength Index304.2.4 Slow Stochastic314.2.5 Combination of Indicators and Oscillators324.3 APPROACH TO PERFORMANCE TESTS325. RESULTS/FINDINGS345.1 BHS345.2 EMA355.3 MACD365.4 BOLLINGER BANDS375.5 MOMENTUM385.6 RSI395.7 SLOW STOCHASTIC406. ANALYSIS416.1 EMA416.2 MACD436.3 BOLLINGER BANDS446.4 MOMENTUM456.5 RSI476.6 SLOW STOCHASTIC487. CONCLUSION508. APPENDIX539. REFERENCES71

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