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 | Acesso ao texto completo restrito à biblioteca da Embrapa Meio Ambiente. Para informações adicionais entre em contato com cnpma.biblioteca@embrapa.br. |
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Registro Completo |
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Biblioteca(s): |
Embrapa Meio Ambiente. |
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Data corrente: |
17/01/2014 |
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Data da última atualização: |
04/01/2023 |
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Tipo da produção científica: |
Artigo em Periódico Indexado |
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Autoria: |
PRADO, H. A. do; FERNEDA, E.; MORAIS, L. C. R.; LUIZ, A. J. B.; MATSURA, E. |
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Afiliação: |
HERCULES ANTONIO DO PRADO, UCB; EDILSON FERNEDA, UCB; LUIS CARLOS R. MORAIS, UCB; ALFREDO JOSE BARRETO LUIZ, CNPMA; EDUARDO MATSURA, CORRETORA SOUZA BARROS. |
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Título: |
On the effectiveness of candlestick chart analysis for the Brazilian stock market. |
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Ano de publicação: |
2013 |
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Fonte/Imprenta: |
Procedia Computer Science, Valmiera, v. 22, p. 1136-1145, 2013. |
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Idioma: |
Inglês |
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Notas: |
Edição de Proceedings of XVII International Conference on Knowledge-Based and Intelligent Information & Engineering Systems, Kitakyushu, 2013. |
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Conteúdo: |
Abstract: Several techniques have been developed in pursuit of understanding the behavior of the financial market, in an attempt to predict the asset pricing behavior. The candlestick chart created in the 18th century is one of these techniques. In 2006, Greg Morris conducted a study on the effectiveness of this technique for the U.S. capital market. However, no similar work was done for the Brazilian market. In this paper, the behavior of part of the Brazilian capital market was studied using sixteen candlestick patterns. We considered the data series of ten stocks between 2005 and 2009, totaling approximately 40% of Ibovespa (São Paulo Stock Exchange Index) turnover. The frequency of confirmation of each pattern was measured along seven exchange sessions after occurrence of such pattern, and results were compared to those presented by Morris. Additionally, adjustments of the observed proportions of hits were tested for their statistical significance. Results found in the frequential analysis showed a discrepancy in relation to Morris\'s study. Likewise, in statistical analysis few patterns have confirmed the behavior expected of them. In at least one case the trend expressed by data, although significant, was contrary to the original interpretation of the pattern. Therefore, direct application of patterns developed for other markets, times or actions is not recommended. Such results do not allow for an affirmation that candlestick patterns have the power to predict future behavior of stocks traded in the Ibovespa stock market. However, we found statistically significant evidence of the predictive ability of some patterns, which may indicate that the technique must be adapted to the market where it is intended to be used. The main contributions of this paper are a partial replication of Morris? study for a set of stocks traded in the Brazilian market, and a statistical analysis of the effectiveness of candlestick patterns as predictors of the behavior of those stocks. MenosAbstract: Several techniques have been developed in pursuit of understanding the behavior of the financial market, in an attempt to predict the asset pricing behavior. The candlestick chart created in the 18th century is one of these techniques. In 2006, Greg Morris conducted a study on the effectiveness of this technique for the U.S. capital market. However, no similar work was done for the Brazilian market. In this paper, the behavior of part of the Brazilian capital market was studied using sixteen candlestick patterns. We considered the data series of ten stocks between 2005 and 2009, totaling approximately 40% of Ibovespa (São Paulo Stock Exchange Index) turnover. The frequency of confirmation of each pattern was measured along seven exchange sessions after occurrence of such pattern, and results were compared to those presented by Morris. Additionally, adjustments of the observed proportions of hits were tested for their statistical significance. Results found in the frequential analysis showed a discrepancy in relation to Morris\'s study. Likewise, in statistical analysis few patterns have confirmed the behavior expected of them. In at least one case the trend expressed by data, although significant, was contrary to the original interpretation of the pattern. Therefore, direct application of patterns developed for other markets, times or actions is not recommended. Such results do not allow for an affirmation that candlestick patterns have the power to predict future ... Mostrar Tudo |
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Palavras-Chave: |
Candlestick; Stock Market. |
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Thesagro: |
Análise econômica; Análise estatística; Mercado. |
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Thesaurus Nal: |
Prediction; Statistical analysis; Stock exchange. |
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Categoria do assunto: |
X Pesquisa, Tecnologia e Engenharia |
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Marc: |
LEADER 02929naa a2200277 a 4500
001 1976525
005 2023-01-04
008 2013 bl uuuu u00u1 u #d
100 1 $aPRADO, H. A. do
245 $aOn the effectiveness of candlestick chart analysis for the Brazilian stock market.$h[electronic resource]
260 $c2013
500 $aEdição de Proceedings of XVII International Conference on Knowledge-Based and Intelligent Information & Engineering Systems, Kitakyushu, 2013.
520 $aAbstract: Several techniques have been developed in pursuit of understanding the behavior of the financial market, in an attempt to predict the asset pricing behavior. The candlestick chart created in the 18th century is one of these techniques. In 2006, Greg Morris conducted a study on the effectiveness of this technique for the U.S. capital market. However, no similar work was done for the Brazilian market. In this paper, the behavior of part of the Brazilian capital market was studied using sixteen candlestick patterns. We considered the data series of ten stocks between 2005 and 2009, totaling approximately 40% of Ibovespa (São Paulo Stock Exchange Index) turnover. The frequency of confirmation of each pattern was measured along seven exchange sessions after occurrence of such pattern, and results were compared to those presented by Morris. Additionally, adjustments of the observed proportions of hits were tested for their statistical significance. Results found in the frequential analysis showed a discrepancy in relation to Morris\'s study. Likewise, in statistical analysis few patterns have confirmed the behavior expected of them. In at least one case the trend expressed by data, although significant, was contrary to the original interpretation of the pattern. Therefore, direct application of patterns developed for other markets, times or actions is not recommended. Such results do not allow for an affirmation that candlestick patterns have the power to predict future behavior of stocks traded in the Ibovespa stock market. However, we found statistically significant evidence of the predictive ability of some patterns, which may indicate that the technique must be adapted to the market where it is intended to be used. The main contributions of this paper are a partial replication of Morris? study for a set of stocks traded in the Brazilian market, and a statistical analysis of the effectiveness of candlestick patterns as predictors of the behavior of those stocks.
650 $aPrediction
650 $aStatistical analysis
650 $aStock exchange
650 $aAnálise econômica
650 $aAnálise estatística
650 $aMercado
653 $aCandlestick
653 $aStock Market
700 1 $aFERNEDA, E.
700 1 $aMORAIS, L. C. R.
700 1 $aLUIZ, A. J. B.
700 1 $aMATSURA, E.
773 $tProcedia Computer Science, Valmiera$gv. 22, p. 1136-1145, 2013.
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Registro original: |
Embrapa Meio Ambiente (CNPMA) |
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| Registros recuperados : 18 | |
| 3. |  | PRADO, H. A. do; FERNEDA, E.; MORAIS, L. C. R.; LUIZ, A. J. B.; MATSURA, E. On the effectiveness of candlestick chart analysis for the Brazilian stock market. Procedia Computer Science, Valmiera, v. 22, p. 1136-1145, 2013. Edição de Proceedings of XVII International Conference on Knowledge-Based and Intelligent Information & Engineering Systems, Kitakyushu, 2013.| Tipo: Artigo em Periódico Indexado | Circulação/Nível: C - 0 |
| Biblioteca(s): Embrapa Meio Ambiente. |
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| 5. | | CORRADINI, E.; MATTOSO, L. H. C.; MORAIS, L. C.; AGNELLI, J. A. M. Mechanical and morphological characterization of the biodegradable composites. In: MACRO 2006; WORLD POLYMER CONGRESS, Rio de Janeiro, Brazil; INTERNATIONAL SYMPOSIUM ON MACROMOLECULES, 41ST., 2006, Rio de Janeiro. Program: abstracts... [S. l.]: ABPol, 2006. ref. 1520.| Biblioteca(s): Embrapa Instrumentação. |
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| 7. | | MORAIS, L. C. de; BERNARDES-FILHO, R.; ASSIS, O. B. G. Wettability evaluation of laser-by-layer proteases enzymatic films for biosensor application. In: ENCONTRO DA SOCIEDADE BRASILEIRA DE PESQUISA EM MATERIAIS - SBPMat, 7., 2008, Guarujá; BRAZILIAN MRS MEETING, 7., 2008, Guarujá. Abstracts... Rio de Janeiro: SBPMat, 2008. não paginado. 1CD-ROM.| Tipo: Resumo em Anais de Congresso |
| Biblioteca(s): Embrapa Instrumentação. |
|  |
| 9. | | CORRADINI, E.; MORAIS, L. C.; ROSA, M. F.; MAZZETTO, S. E.; MATTOSO, L. H. C.; AGNELLI, J. A. M. A preliminary study for the use of natural fibers as reinforcement in starch-gluten-glycerol matrix. Macromolecular symposia, Heidelberg, v. 245-246, p. 558-564, 2006.| Biblioteca(s): Embrapa Instrumentação. |
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| 10. | | CORRADINI, E.; MORAIS, L. C. de; DEMARQUETTE, N. R.; AGNELLI, J. A. M.; MATTOSO, L. H. C. Study of process parameters for starch glúten, and glycerol. Polymers for advanced Technologies, [S. l.], v. 18, p. 861-867, 2007.| Tipo: Artigo em Periódico Indexado | Circulação/Nível: Internacional - A |
| Biblioteca(s): Embrapa Instrumentação. |
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| 11. | | MANOS, M. G. L.; GALVAO, D. M. de O.; ALMEIDA, M. J. de O.; MORAIS, L. C. de; BARROSO NETO, J.; VEDEVOTO, G. L. Avaliação de aceitação do flocão de milho biofortificado em áreas de atuação da rede Biofort no Nordeste brasileiro. In: REUNIÃO DE BIOFORTIFICAÇÃO NO BRASIL, 5., 2015, São Paulo. Anais... Brasília, DF : Embrapa, 2015. p. 233-237.| Tipo: Artigo em Anais de Congresso |
| Biblioteca(s): Embrapa Tabuleiros Costeiros. |
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| 12. | | MANOS, M. G. L.; GALVAO, D. M. de O.; ALMEIDA, M. J. de O.; MORAIS, L. C. de; BARROSO NETO, J.; VEDOVOTO, G. L. Avaliação de aceitação do flocão de milho biofortificado em áreas de atuação da rede Biofort no Nordeste brasileiro. In: REUNIÃO DE BIOFORTIFICAÇÃO NO BRASIL, 5., 2015, São Paulo. Anais... Brasília, DF: Embrapa, 2015. p. 233-237.| Biblioteca(s): Embrapa Unidades Centrais. |
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| 13. | | MANOS, M. G. L.; GALVAO, D. M. de O.; ALMEIDA, M. J. de O.; MORAIS, L. C. de; BARROSO NETO, J.; VEDOVOTO, G. L. Avaliação de aceitação do flocão de milho biofortificado em áreas de atuação da rede Biofort no Nordeste brasileiro. In: REUNIÃO DE BIOFORTIFICAÇÃO NO BRASIL, 5., 2015, São Paulo. Anais... Brasília, DF: Embrapa, 2015. p. 233-237.| Tipo: Artigo em Anais de Congresso |
| Biblioteca(s): Embrapa Meio-Norte. |
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| 14. | | MANOS, M. G. L.; GALVAO, D. M. de O.; RAMOS, S. R. R.; MORAIS, L. C. de; GOMES, R. T. da S. Consumo de abóbora em Sergipe: identificação de hábitos, preferências e limites no subsídio ao desenvolvimento de cultivares para agricultura familiar. In: CONGRESSO DA SOCIEDADE BRASILEIRA DE ECONOMIA, ADMINISTRAÇÃO E SOCIOLOGIA RURAL, 22., 2017, Itabaiana. Políticas públicas e desenvolvimento rural em tempos de crise: anais. Aracaju: UFS, 2017.| Tipo: Artigo em Anais de Congresso |
| Biblioteca(s): Embrapa Tabuleiros Costeiros. |
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| 15. | | GALVAO, D. M. de O.; MANOS, M. G. L.; ALMEIDA, M. R. M. de; MORAIS, L. C. de; BARROSO NETO, J. Desafios e utilidades do cadastramento de acesso a tecnologias: o caso da caracterização socioeconômica de famílias com acesso a feijões biofortificados em Sergipe (2011 a 2014). In: REUNIÃO DE BIOFORTIFICAÇÃO NO BRASIL, 5., 2015, São Paulo. Anais... Brasília, DF: Embrapa, 2015. 229-232| Tipo: Artigo em Anais de Congresso |
| Biblioteca(s): Embrapa Tabuleiros Costeiros. |
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| 17. | | GOVEIA, D.; LOBO, F. A.; CUNHA, B. B. da; FRACETO, L. F.; MORAIS, L. C. de; GUANDIQUE, M. E. G.; ROSA, A. H. Caracterização de espécies metálicas em hidrocolóides húmicos utilizando troca de metais "on-line" e ultrafiltração com fluxo tangencial. In: ENCONTRO BRASILEIRO DE SUBSTÂNCIAS HÚMICAS, 8., 2009. Pelotas. Resumos... Pelotas: Embrapa Clima Temperado, 2009. p. 35.| Biblioteca(s): Embrapa Clima Temperado. |
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| 18. | | CORRADINI, E.; MORAIS, L. C. de; ROSA, M. de F.; MAZZETTO, S. E.; MATTOSO, L. H. C.; AGNELLI, J. A. M. A preliminary study for the use of natural fibers as reinforcement in starch-gluten-glycerol matrix Macromolecular Symposia, Weinheim, v.245-246, n. 1, p.558-564, 2006.| Tipo: Artigo em Periódico Indexado | Circulação/Nível: Internacional - A |
| Biblioteca(s): Embrapa Agroindústria Tropical. |
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| Registros recuperados : 18 | |
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| Nenhum registro encontrado para a expressão de busca informada. |
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