The Trend Bible

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A break upwards from a horizontal trend has been followed by a solid price increase equivalent to 4.0 percentage points more than average benchmark development in three months.

Research Results – Horizontal Trends

a) Norway.

b) Sweden.

c) Denmark.

d) Finland.

Figure 1: Breaks from horizontal trends. Average price development for stocks breaking upwards and downwards from horizontal trends in Investtech’s medium long term technical charts.

Relative return, breaks from horizontal trends	Norway	Sweden	Denmark	Finland	Weighgted average
Breaking upwards	5.1 ppt	3.2 ppt	4.9 ppt	0.4 ppt	4.0 ppt
Breaking downwards	-2.3 ppt	-5.5 ppt	-4.5 ppt	-4.9 ppt	-4.1 ppt

ppt: percentage points

The data set for horizontal trends is smaller than the data sets for the other trend signals. This means that these situations are rare in the market. A break upwards from a horizontal trend has, however, been followed by a solid price increase of 4.0 percentage points more than benchmark average in three months. Similarly breaks downwards have been followed by a negative excess return of 4.1 percentage points. The great price differences make these results clearly significant.

If you want to learn more about horizontal trends or see which stocks have currently triggered signals from horizontal trends....

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Trendbibelen er skrevet af Investtechs forskningschef Geir Linløkken i 2016. Forskningsteamet bag Trendbibelen består af seniorforskerne Asbjørn Taugbøl og Fredrik Tyvand samt Linløkken selv.

Trendbibelen - startside

Investtech har arbejdet med forskning inden for adfærdsbaseret finans og teknisk og kvantitativ aktieanalyse siden 1997. Virksomheden har udviklet et analysesystem, der blandt andet identificerer trender, støtte og modstand, formationer og volumenmønstre i aktiekurser, og giver købs- og salgsanbefalinger baseret på dette. Investtech gør udstrakt brug af avancerede matematiske algoritmer og tunge statistiske metoder i sine dataprogrammer og internettbaserede abonnementstjenester.

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