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Technical analysis of stocks
Hlísta, Igor ; Stádník, Bohumil (advisor)
The aim of this thesis is to give information about the technical analysis, its essentials and the chosen tools. In the following it describes two main theories which reject the use of the technical analysis for the future predictions of the stocks prices namely the efficient market theory and the random walk theory. It includes an example of the back-test of the business strategy and a practical demonstration of the stocks trading. Thesis is divided into five parts. The first one describes stocks and their trading. The second one analyses the efficient market theory and the random walk theory. In the third part there is a description of the technical analysis itself and its tools. The fourth part shows business strategy back-test and the last part illustrates the practical trading.
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Information as a basis for stock trading
Mixánek, Lukáš ; Rosický, Antonín (advisor) ; Matuštík, Ondřej (referee)
The objective of the thesis is to characterize the importance of information and consequently also of knowledge as the bases for active dealing in the stock market. The fundamental terms of information credibility, disinformation and information asymmetry, which have a cardinal effect on behaviour of particular participants of the market, are mentioned in the thesis. The theory of effective markets and the factors due to which it is not able to explain the development and the real state of the contemporary stock markets, are analysed in more detail in the thesis. A considerable part of the thesis is devoted to the analysis and the definition of information need as a basic requirement for making successful investment decisions of an individual, whereas ways to its fulfilment are implied -- including a description and a division of available information sources. The description and the analysis of several dealing strategies which are directly based on usage of various kinds of information are not missing in the thesis. A part of the work is a presentation and an analysis of the results of a research made among real investors.
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Technical analysis in the foreign exchange market
Vařenka, Jiří ; Durčáková, Jaroslava (advisor) ; Mandel, Martin (referee)
The main goal of this bachelor thesis is to characterize technical analysis as a method of foreign exchange rate prediction and its possible ways of use. The first chapter focuses on the foreign exchange market characteristics, the FX market participants and retail trading conditions. The second chapter explains different types of data presentations as well as basic support and resistance approach and brings detailed classification features of indicators, which are commonly used in technical analysis by both dealers and retail traders. The technical analysis is then confronted with the efficient market theory. In the empirical part we test one simple moving average-based trading strategy in 4 modifications.
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