Stars, crows, and doji: The use of candlesticks in stock selection

This paper examines Japanese Candlestick methods of technical analysis for 349 stocks. Using more data and alternative tests, the study contradicts an earlier article in the literature, finding little value in the use of candlesticks and providing more support for the weak form of the Efficient Markets Hypothesis.

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Year of publication:	2009
Authors:	Horton, Marshall J.
Published in:	The Quarterly Review of Economics and Finance. - Elsevier, ISSN 1062-9769. - Vol. 49.2009, 2, p. 283-294
Publisher:	Elsevier
Keywords:	Market efficiency Candlestick Technical analysis Charting

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005077746