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The evolution of the retail investor- a technical analysis approach

2021-06-29Dissertação de mestrado Acesso aberto
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datacite.subject.fosCiências Sociais::Economia e Gestãopt_PT
dc.contributor.advisorLameira, Pedro
dc.contributor.authorÂngelo, Bernardo Fraústo Do Santos
dc.date.accessioned2022-02-18T16:12:23Z
dc.date.available2024-06-29T00:31:19Z
dc.date.issued2021-06-29
dc.date.submitted2021-06-29
dc.description.abstractThis paper focuses on the evolution of technical analysis over the course of the last 17 years, evaluating the correlation of such progress with the ascension in retail investing, given the development of the online brokerage industry during this period. In a first stage, a market study is performed to understand the growing magnitude of retail investing. In a second stage, technical indicators are evaluated for two distinct asset classes, with the purpose of understanding how the efficacy of signals generated by technical trading rules evolves, according to asset type. In a last stage, results are combined to determine if the evolutionary process on both metrics is related. We find a significant relation between the evolution in retail investing and the one of technical trading efficacy for technology stocks. We further find an increasing propensity for technical analysis to correctly predict price moves for small-cap ETFs, although the explanatory power of the evolution in retail investing is not significant in explaining such increase.pt_PT
dc.identifier.tid202769780pt_PT
dc.identifier.urihttp://hdl.handle.net/10362/133151
dc.language.isoengpt_PT
dc.subjectRetail investingpt_PT
dc.subjectOnline brokeragept_PT
dc.subjectTechnical analysispt_PT
dc.subjectEfficient market hypothesispt_PT
dc.subjectStock market anomaliespt_PT
dc.subjectTechnology stockspt_PT
dc.subjectSmall-cap index etfspt_PT
dc.subjectLarge-cap index etfspt_PT
dc.titleThe evolution of the retail investor- a technical analysis approachpt_PT
dc.typemaster thesis
dspace.entity.typePublication
rcaap.rightsopenAccesspt_PT
rcaap.typemasterThesispt_PT
thesis.degree.nameA Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economicspt_PT

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NSBE - MA Dissertations