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Avrasya Ekonometri �statistik ve Ampirik Ekonomi DergisiYl:2015 Say: 1 Alan: Ekonometri

Kutluk Kaan SMER
Hisse Senedi Getirisi zerinde Teknik Analiz Gstergelerinin Etkinli?i: Bir Panel Veri Yakla??m?
 
Teknik analiz temel olarak fiyat grafikleri zerindeki geometrik ekiller ve gstergeler yardmyla fiyat trendlerini tanmlamay amalar. Bu alma hisse senedi getirileriyle teknik analiz gstergeleri arasndaki ilikiyi 1-1-2000 ile 31-12-2013 tarihleri arasnda BIST-Bankaclk endeksindeki Trk ticari bankalar zerinde aratrmay amalamaktadr. Teknik analiz gstergeleri gnlk hisse senedi fiyat verilerinden temin edilmitir. Burada ana adm hisse senedi getirileriyle teknik analiz gstergeleri arasndaki ilikiyi ortaya koymaktr. Bu amala bankaclk sektrndeki eitli bankalarn hisse senetlerini kapsayan panel veri metodolojisi kullanlmtr. Sonu olarak panel olarak teknik analiz gstergeleriyle hisse senedi getirileri arasnda istatistiki anlaml bir iliki bulunmutur.

Anahtar Kelimeler: Borsa, BIST, Teknik Analiz, Teknik Analiz gstergeleri, Panel Veri, Bankaclk Sektr, Ekonometri, Ekonometrik Model, Finansal Ekonometri


Effectiveness of technical analysis indicators over stock return: A Panel Data Approach
 
Technical analysis aims on visually identifying geometrical patterns and indicators in price charts in order to anticipate price trends. This paper investigates the relations between return and technical analysis indicators of Turkish commercial banking sector in BIST-BANKING index for the period 1-1-2000- 31-12-2013. Technical analysis indicators are generated by taking into account the daily stock prices. The general steps go through the identification of the relations for the securities returns and technical analysis indicators. We illustrate the proposed with a panel data methodology including several securities of banking sector. Our investigation shows that there is a statistically significant relation between technical analysis indicators and stock returns as panel.

Keywords: C23;C55; C58, G17; G14


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