| Tekijä: | Doucouliagos, C. |
| Otsikko: | Price exhaustion and number preference: time and price confluence in Australian stock prices |
| Lehti: | European Journal of Finance
2005 : JUN, VOL 11:3, p. 207-222 |
| Asiasana: | Stock markets Prices Australia |
| Kieli: | eng |
| Tiivistelmä: | Confluence (hereafter as: confl.) occurs when different trading filters generate signals pointing to the same directional move. This paper investigates confl. trading signals associated with number preference and price exhaustion, e.g. Australian (here: A.) stocks. The results show that certain price levels tend to act as psychological barriers, and that price exhaustion signals are a real phenomenon in the A. stock market. It is also shown that confl. exists in the A. stock market. The results suggest that A. stocks do not follow a random walk. |
SCIMA