A study of successful reversal trend in Hong Kong common shares : using technical analysis and Elliott Wave Theory

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A study of successful reversal trend in Hong Kong common shares : using technical analysis and Elliott Wave Theory

 

Author: Sin, Wing-kan
Title: A study of successful reversal trend in Hong Kong common shares : using technical analysis and Elliott Wave Theory
Degree: M.Sc.
Year: 2011
Subject: Hong Kong Polytechnic University -- Dissertations
Stock index futures -- China -- Hong Kong
Stock exchanges -- China -- Hong Kong
Department: Dept. of Computing
Pages: viii, 53 leaves : col. ill. ; 30 cm.
InnoPac Record: http://library.polyu.edu.hk/record=b2426863
URI: http://theses.lib.polyu.edu.hk/handle/200/6052
Abstract: The paper examines the successful reversal trends in the Hang Seng Index as well as the selected common shares listed on the Hong Kong Stock Exchange within the past 15 years, by the use of various techniques of technical analysis with the popular Elliott Wave Theory. Furthermore, the formation and the confirmation of reversal trends are identified. The study finds out an important pattern in the formation of a market reversal. Before introducing the findings, the study observes two kinds of reversal trends: one being the top reversal and the other being the bottom reversal. Charts were printed out for further investigation, compared with the quantitative results of technical indicators. It is discovered that the pattern of convexity and concavity exist during the phrase of reversal through the charts. Furthermore, this study observes that momentum indicators such as Relative Strength Index and Stochastic Oscillators are valid for determination of overbought and oversold. In addition, trading volume is a good tool for confirmation of reversal trend. Last, but not least, there exists an over-reaction of the market is due to the fear and greed based on the change between convexity and concavity. Thus, a over-shooting problem exist, which is open for future investigation.

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