@inbook {2869,
	title = {Profitability of Technical Trading Rules in an Emerging Market},
	booktitle = {The Handbook of Trading: Strategies for Navigating and Profiting from Currency, Bond, and Stock Markets },
	year = {2010},
	pages = {97-11},
	publisher = {McGraw-Hill, NYC},
	organization = {McGraw-Hill, NYC},
	edition = {edited by Greg N. Gregoriou},
	address = {New York},
	abstract = {<p>This chapter investigates the profitability of technical trading rules in the\&nbsp;Athens Stock Exchange (ASE), utilizing the FTSE/ASE 20 index during\&nbsp;the period 1995 to 2008. We focus on a less developed and efficient stock\&nbsp;market, given the existing scarcity of research in such markets. The technical\&nbsp;rules that will be explored are simple moving averages. We compare\&nbsp;technical trading strategies in the spirit of Brock, Lakonishok, and LeBaron\&nbsp;(1992), employing traditional t test and bootstrap methodology under the\&nbsp;generalized autoregressive conditional heteroscedasticity model. The\&nbsp;results provide strong evidence on the profitability of the technical trading\&nbsp;rules against the {\textquotedblleft}buy and hold{\textquotedblright} strategy and contradict the efficient market\&nbsp;hypothesis.</p>},
	author = {Dimitris Kenourgios and Spyros Papathanasiou}
}
