Posibilităţi de utilizare a analizei tehnice în cadrul managementului portofoliilor de active financiare

Autor:Lector univ. dr. Ştefana DIMA (Cristea), profesor univ. dr. Bogdan DIMA, drd. Otilia ŞĂRĂMĂT

JEL:G11, G15


Cuvinte cheie:analiză fundamentală, analiză tehnică, portofoliu de active financiare, indicatori, metodologii

The purpose of the present paper is to debate over the possibilities of using technical analysis as a tool for financial assets’ portfolio management in parallel with fundamental analysis, highlighting the methodologies particular to the former as well as the ways of combining the two types of analysis. In addition, the empirical study shows how specific technical analysis’ indicators may be applied to generating trading signals, in order to built and manage four portfolios which “copy” the structure of major stock market indices: Dow Jones Industrial Average, NASDAQ Composite, S&P 500 Index and FTSE100. The results reveal the increasing volatility of those markets along with a certain decreasing trend of financial assets’ holding and trading horizons particular to investors on developed markets, which explain the relative higher performance of oscillators opposed to trend indicators.\r\n