Stars,crows, and doji: The use of candlesticks in stock selection |
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| Authors: | Marshall J. Horton |
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| Affiliation: | Regions Bank Chair of Economics and Finance, Hickingbotham School of Business, Ouachita Baptist University, OBU Box 3686, Arkadelphia, AR 71998, United States |
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| Abstract: | This paper examines Japanese Candlestick methods of technical analysis for 349 stocks. Using more data and alternative tests, the study contradicts an earlier article in the literature, finding little value in the use of candlesticks and providing more support for the weak form of the Efficient Markets Hypothesis. |
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