Sulistiawan, Dedhy (2009) REAKSI PASAR DI SEKITAR TANGGAL PENGUMUMAN LABA: PENGUJIAN ANALISIS TEKNIKAL MODERN. Jurnal Keuangan dan Perbankan, 13 (2). pp. 185-197. ISSN 1410-8089
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Abstract
The purpose of this research was to test the profitability of technical analysis indicators around annual earnings announcements date. Offering new technique to test market reaction, this research preferred modern technical analysis to classical indicators because of the objectivity of measurement. This research used Indonesian Stock Exchange data in year 2008. There were two technical indicators selected, they were RSI (5) and RSI (5)-SMA (5). Using one sample t-test, the results showed that this trading strategy was profitable around earnings announcement date. It meant that signal could be used before announcement date. The data showed that selling signal was statistically significant producing profit but not buying signal. Supplementary analysis results showed that there was no correlation between technical analysis return and earnings change. This phenomenon described that technical analysis was profitable but data showed that there was evidence about the pattern of buying signal (selling signal)before good news (bad news).
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | technical analysis, earnings announcement |
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance |
| Divisions: | Faculty of Business and Economic > Department of Accounting |
| Depositing User: | Dedhy Sulistyawan 31116 |
| Date Deposited: | 27 Jan 2020 02:15 |
| Last Modified: | 24 Mar 2021 16:21 |
| URI: | http://repository.ubaya.ac.id/id/eprint/37133 |
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