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

ADEL, MABROUK and AHMED., S. WAFI and HASSAN, HASSAN (2015) Fundamental Analysis Vs Technical Analysis in The Egyptian Stock Exchange – Empirical Study. In: Third International Conference on Advances in Economics, Management and Social Study - EMS 2015, 11-12 APRIL 2015, Kuala Lumpur, Malaysia.

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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.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Fundamental Analysis; Technical Analysis; Stock Value; Efficient Market; Emerging Market.
Depositing User: Mr. John Steve
Date Deposited: 04 May 2019 12:27
Last Modified: 04 May 2019 12:27
URI: http://publications.theired.org/id/eprint/1925

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