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Success Rate of Symmetrical Triangle Pattern in Indian Stock Charts

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Issue Abstract

Abstract
If price moves in the direction signalled by the Symmetrical triangle pattern, investment success can be ensured by identifying and following signals given by this patter. This papers examines whether the pattern achieves price objective expected of it so as to consider it as a predictive tool for superior return. The study finds that majority of symmetrical triangle patters identified do not achieve the whole price objective as held traditionally, so lack predictive value.  
Keywords: Technical analysis, stock market. Stock chart, Pattern, Symmetrical Triangle, Price Objective Achievement, Predictive Tool, Superior Return.
 

Author Information
Dr. Sajeeve V.P.
Issue No
4
Volume No
5
Issue Publish Date
05 Apr 2019
Issue Pages
77-88

Issue References

References
Books 

  • Bauer Jr. Richard J. and Dahlquist Julie R., Technical Market Indicators: Analysis & Performance, John Wiley & Sons, Inc. New York the USA., (p. vii), (1999)

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    Journals

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  • Fama, Eugene F., ‘Random Walks in Stock Market prices’, Financial Analyst Journal, Vo. XXI.

  • Gehm, Fred., ‘Who is R.N. Elliot and why is he making waves?’, Financial Analyst Journal, February, 1983, pp. 51-58.

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  • Levy Robert.A., ‘Conceptual Foundations of Technical Analysis’ Financial Analyst Journal, July – August, 1966, pp. 83-89, Reprinted in Sree Profit. Vol. IV. August, 1989.

  • Levy Robert A. Random Walks Reality or Myths’, Financial Analyst Journal, Vol. 23. No. 6 Nov.Dec. 1967.

Websites   
https://www.metastock.com 
https://www.investing.com 
https://www.nseindia.com 
https://www.bseindia.com
https://in.finance.yahoo.com 
https://www.ssrn.com
https://www.ino.com 

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