Conference Proceedings

Third International Conference on Advances in Economics, Management and Social Study - EMS 2015

Fundamental Analysis Vs Technical Analysis in The Egyptian Stock Exchange – Empirical Study

Author(s) : ADEL MABROUK   , AHMED. S. WAFI   , HASSAN HASSAN   

Abstract

This Study aims at attempting to answer the following question: Which of the Analysis Methods i.e. technical analysis or fundamental analysis has more credibility in forecasting the value (prices & returns) of the share?. To achieve this objective, the study used the Pooled Cross- Sectional and Time Series Analysis. In this paper, we have applied on an arbitration sample consisting of (37) nonfinancial companies listed in the Egyptian Financial Markets (The Egyptian Exchange EGX) and which represent the most active companies in EGX through the Period (1998 – 2009) i.e. yearly periods. The results show that there is a significant difference between the results of the technical analysis and the fundamental analysis concerning the value (prices & returns) of the share in EGX in favor of the technical analysis method, that is a result of the characteristics of the Egyptian market which is inefficient financially, and the variation in financial reports and statements, in addition to the impact of the noneconomic aspects. This result matches with some of the studies which were applied in the emerging financial markets.

Conference Title : Third International Conference on Advances in Economics, Management and Social Study - EMS 2015
Conference Date(s) : 11-12 APRIL 2015
Place : G Tower Hotel, Kuala Lumpur, Malaysia
No fo Author(s) : 3
DOI : 10.15224/978-1-63248-058-3-58
Page(s) : 31 - 37
Electronic ISBN : 978-1-63248-058-3
Views : 660   |   Download(s) : 179