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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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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