Shareholding market and the performance of the financial assets in Brazil with the use of technical analysis

Authors

  • Anderson de Paula Universidade do Vale do Rio dos Sinos
  • Divanildo Triches Universidade de Caxias do Sul

DOI:

https://doi.org/10.4013/4291

Abstract

This study aims to investigate the performance of technical analysis model used in the management of a portfolio, created from the shareholding with greater participation in the theoretical portfolio of IBOVESPA. It also evaluates the performance and the available return of shareholding portfolio comparing to other strategies and Brazilian financial assets. The period chosen to the analysis was from January 02, 2007 until August 29, 2008 and the twelve stockholdings, in order of participation in the IBOVESPA theoretical portfolio on December 28, 2006 that were Petrobras PN, Vale R. Doce PNA-N1, Bradesco PN-N1, Usiminas PNA, Telemar PN, Itaubanco PN-N1, Vale R. Doce ON-N1, Gerdau PN-N1, Siderurgica National ON, Net PNN2, VIVO PN and Petrobras ON. The evidences had pointed out that the management of stockholdings portfolio by moving averages from technical analysis model yielded 69.27% from January 02, 2007 up to August 29, 2008. Therefore, this result was higher than it was reached by the strategy of buy & hold from the same portfolio of 44,61%. Also this yield was greater than any other financial asset like investment fund or other indicator based on stockholding prices as IBOVESPA.

Key words: technique analysis, stockholdings, Ibovespa, theoretical portfolio, mobile averages,capital market.

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Published

2021-06-16

Issue

Vol. 6 No. 1 (2010): Jan-Jun

Section

Articles

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