Can profit targets improve the profitability of candlestick charting?
by Tsung-Hsun Lu
International Journal of Revenue Management (IJRM), Vol. 10, No. 3/4, 2018

Abstract: This study proposes a different way to implement candlestick trading rules. Applying profit targets to the PHLX semiconductor sector index (SOX) component stocks from 1992 to 2016, the author found two 3-day candlestick patterns can earn over 1% profit, after considering transaction costs and the data-snooping problem. This profit target approach thus provides an alternative way for investors to decide on which day to exit the market.

Online publication date: Thu, 22-Nov-2018

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