Identification through technical analysis: A study of charting and UK non-professional investors
Roscoe, P. Howorth, Carole
Roscoe, P.
Howorth, Carole
Publication Date
2009
End of Embargo
Supervisor
Rights
Peer-Reviewed
Yes
Open Access status
closedAccess
Accepted for publication
Institution
Department
Awarded
Embargo end date
Collections
Additional title
Abstract
The usefulness of technical analysis, or charting, has been questioned because it flies in the face of the ‘random walk’ and tests present conflicting results. We examine chartists’ decision-making techniques and derive a taxonomy of charting strategies based on investors’ market ontologies and calculative strategies. This distinguishes between trend-seekers and pattern-seekers, and trading as a system or an art. We argue that interpretative activity plays a more important role than previously thought and suggest that charting’s main appeal for users lies in its power as a heuristic device regardless of its effectiveness at generating returns.
Version
No full-text in the repository
Citation
Roscoe P and Howorth C (2009) Identification through technical analysis: A study of charting and UK non-professional investors. Accounting, Organizations and Society. 34(2): 206-221.
Link to publisher’s version
Link to published version
Link to Version of Record
Type
Article