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Can Technical Analysi be successfully used to predict stock price movement: An analysis on Nifty 50, FTSE 100, S&P500 and S&P/TSX using an amalgamated stock screening mechanism consisting of Ichimoku KInko Hyo, Bollinger bands and Stochastic Relative Strength Index.
This is a breakthrough research out of Coventry University, from a researcher Tanmaya Sharma pursuing MSc Investment Management at Coventry University. It suggests a method to optimise trading decision making.
In this book, we will study the significance of technical analysis and its impact in predicting stock price movements to generate alpha.We will study four markets, United Kingdom, United States of America, Republic of India and Canada for the purpose of this research simplicity we will use their main stock indices namely FTSE 100, S&P 500, Nifty 50 and S&P/TSX 60 Respectively.
We will briefly scrutinize each technical analysis technique of Ichimoku Kinko Hyo, Bollinger Bands and Stochastic Relative Strength Index.
We will use an amalgamation of Ichimoku Kinko Hy, Bollinger Bands and Stochastic Relative Strength Index to screen these stocks, we will refer to this stock screening mechanism as "Sharma Amalgamation". We will also briefly explain inherent underlying behavioural science biases that may cause our findings to get sidtorted or extrapolated. Thus, We will circumvent this problem by using inverted loss aversion theory.
Our findings evidence that technical analysis and specially "Sharma Amalgamation" can indeed be successfully used to predict stock price movements. THere, creating alpha (excess returns).
"Sharma Amalgamation" makes it evident from empirical evidence of a staggering mean return using Sharma Amalgamations which stand at 280.4026% in Nifty 50, 111.185% mean return in S&P/TSX, 46.867% mean returns in S&P 500 and 45.4212% mean return in FTSE 100.
You should read all about it in this book by the Analyst Tanmaya Sharma.