Research Results – Short and Long Term Trends

Figure 1: Short term. Average price development for stocks in rising and falling trends in Investtech’s short term technical charts.



Figure 2: Long term. Average price development for stocks in rising and falling trends in Investtech’s long term technical charts.



Relative return, stocks in rising trends Norway Sweden Denmark Finland Weighted average
Short term 2.4 ppt 1.7 ppt 1.9 ppt 0.9 ppt 1.9 ppt
Medium long term 2.3 ppt 1.5 ppt 2.3 ppt 0.2 ppt 1.8 ppt
Long term 1.3 ppt 0.4 ppt 1.7 ppt -0.6 ppt 0.8 ppt

Relative return, stocks in falling trends Norway Sweden Denmark Finland Weighted average
Short term -2.7 ppt -1.7 ppt -3.1 ppt -1.8 ppt -2.2 ppt
Medium long term -3.2 ppt -2.0 ppt -4.9 ppt -2.0 ppt -2.8 ppt
Long term -1.5 ppt -0.5 ppt -3.0 ppt +0.4 ppt -1.2 ppt

ppt: percentage points

The charts and table above show that stocks in rising trends have continued upwards, more so than the market, for short, medium long and long term trends. The rise is most significant for the short term and medium long term tends, but also the long term charts show significant positive covariation between rising trend and excess return in three months.

Falling trends give a good indicator of negative excess return in the short, medium long and long term. The connection is clearer for short and medium term, also significant in the long term.

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Die Anlageempfehlungen werden von Investtech.com AS ("Investtech") ausgearbeitet. Investtech übernimmt keine Haftung für die Vollständigkeit oder Richtigkeit der jeweiligen Analyse. Ein etwaiges Engagement aufgrund der aus den Analysen resultierenden Empfehlungen/Signale erfolgt zur Gänze für Rechnung und Risiko des Anlegers. Investtech haftet nicht für Verluste, die sich direkt oder indirekt infolge der Nutzung von Investtechs Analysen ergeben. Angaben zu etwaigen Interessenkonflikten gehen stets aus der Anlageempfehlung hervor. Weitere Informationen zu Investtechs Analysen finden Sie unter disclaimer.


Die Anlageempfehlungen werden von Investtech.com AS ("Investtech") ausgearbeitet. Investtech übernimmt keine Haftung für die Vollständigkeit oder Richtigkeit der jeweiligen Analyse. Ein etwaiges Engagement aufgrund der aus den Analysen resultierenden Empfehlungen/Signale erfolgt zur Gänze für Rechnung und Risiko des Anlegers. Investtech haftet nicht für Verluste, die sich direkt oder indirekt infolge der Nutzung von Investtechs Analysen ergeben. Angaben zu etwaigen Interessenkonflikten gehen stets aus der Anlageempfehlung hervor. Weitere Informationen zu Investtechs Analysen finden Sie unter disclaimer.

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