The Comparison of Return between those Technical Analysis Tools on the Investment of SET 50

  • Yotaek Chaiyarit วิทยาลัยบัณฑิตศึกษาการจัดการ มหาวิทยาลัยขอนแก่น
  • Pongsutti Phuensane สาขาวิชาการเงิน คณะบริหารธุรกิจและการบัญชี มหาวิทยาลัยขอนแก่น
  • Surachai Chancharat สาขาวิชาการเงิน คณะบริหารธุรกิจและการบัญชี มหาวิทยาลัยขอนแก่น
Keywords: Compares the return, Technical analysis, Value Investment

Abstract

This study compares the return on investment for the first 50 largest market capital in the Stock Exchange of Thailand or SET50. The investment tools to tracking the return is technical analysis tools, such as; SMA (5,200), MACD(12, 26, 9), SSTO(9), ADX(14), RSI(14) and one fundamental tool for buy and hold strategy is the PE ratio.  This study set an experiments to investigate the return by using all 5 types of technical tools, and the lowest PE, but greater than zero to purchase the stock also call stock selection. Using the data between January 3, 2549 (2006) and December 30, 2559 (2016), the study finds the best tool to find stock is the PE, then SMA(5,200) ADX(14) MACD (12,26, 9) SSTO(9) and RSI(14) with the return(%) of 14.30, 12.03, 11.26, 8.61, 5.67, 4.21 and 2.39, respectively. The result also show that the use of technical analysis tools perform better during upward trend or bull market and in this study the fundamental tool which is the PE Ratio that perform better than other tools.

References

1. Sareewiwatthana P. Value Investing In Thailand: The Test Of Basic
Screening Rules. International Review of Business. Research Papers.
2011; 7: 1-13.

2. Sareewiwatthana P. Value Investing In Thailand: Evidence from the
Use of PEG. Technology and Investment. 2012; 3: 113-120.

3. Sareewiwatthana P. Common Financial Ratios and Value Investing
in Thailand. Journal of Finance and Investment Analysis. 2013; 2:
69-85.

4. Sareewiwatthana, P. PE Growth and Risk: Evidences from Value
Investing in Thailand. Technology and Investment. 2014; 5: 116-124.

5. Sareewiwatthana P. Value Investment in Thailand: Optimal Number
of Stocks and Holding Period. Nida Business Journal. 2015; 16: 5-25.

6. Ruengpornsak J, Nawarattanapiboon N, Srikared T. The returns on
investment in the Stock Exchange of Thailand by using technical
indicator Relative strength index [B.B.A. thesis]. Phitsanulok: Naresuan
Universit; 2015. Thai.

7. Kasetsart University Library [Internet]. 2013. Retrieved, 2013,
from http://kukr.lib.ku.ac.th

8. Boonmeesuwan C. Comparison of Returns from Investment
Strategies Using Technical Analysis in The Stock Exchange of
Thailand. Journal of far eastern university. 2016; 10(4): 127-144.
Published
2019-11-27
How to Cite
Chaiyarit, Y., Phuensane, P., & Chancharat, S. (2019). The Comparison of Return between those Technical Analysis Tools on the Investment of SET 50. KKU Research Journal (Graduate Studies) Humanities and Social Sciences, 7(3), 127-133. Retrieved from https://www.tci-thaijo.org/index.php/gskkuhs/article/view/226982
Section
บทความวิจัย (Articles)