An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA

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dc.contributor.advisorGossel, Sean Jen_ZA
dc.contributor.authorHutton, Simonen_ZA
dc.date.accessioned2018-11-02T09:31:28Z
dc.date.available2018-11-02T09:31:28Z
dc.date.issued2015en_ZA
dc.description.abstractThis paper examines the predictive power of two Japanese Candlestick patterns for a 49-stock sample of small capitalization stocks drawn from the S&P 600 for the period 1 June 2005 to 15 May 2015. Using the normal approximation to the binomial for statistical testing and a dynamic holding period strategy to test the threeoutside- up and three-outside-down patterns, this study contradicts earlier works that used dynamic holding period strategies for large capitalization stocks and showed moderate levels of statistically significant predictive power. This study finds no statistically significant evidence of the predictive power of the three-outside-up and three-outside- down patterns for the sample and time period considered. Hence, the findings imply that there is no evidence to challenge the Efficient Market Hypothesis.en_ZA
dc.identifier.apacitationHutton, S. (2015). <i>An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Research of GSB. Retrieved from http://hdl.handle.net/11427/28975en_ZA
dc.identifier.chicagocitationHutton, Simon. <i>"An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Research of GSB, 2015. http://hdl.handle.net/11427/28975en_ZA
dc.identifier.citationHutton, S. 2015. An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Hutton, Simon AB - This paper examines the predictive power of two Japanese Candlestick patterns for a 49-stock sample of small capitalization stocks drawn from the S&P 600 for the period 1 June 2005 to 15 May 2015. Using the normal approximation to the binomial for statistical testing and a dynamic holding period strategy to test the threeoutside- up and three-outside-down patterns, this study contradicts earlier works that used dynamic holding period strategies for large capitalization stocks and showed moderate levels of statistically significant predictive power. This study finds no statistically significant evidence of the predictive power of the three-outside-up and three-outside- down patterns for the sample and time period considered. Hence, the findings imply that there is no evidence to challenge the Efficient Market Hypothesis. DA - 2015 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA TI - An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA UR - http://hdl.handle.net/11427/28975 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/28975
dc.identifier.vancouvercitationHutton S. An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA. [Thesis]. University of Cape Town ,Faculty of Commerce ,Research of GSB, 2015 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/28975en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentResearch of GSBen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherDevelopment Financeen_ZA
dc.titleAn analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USAen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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