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William Wai Him Tsang and Terence Tai Leung Chong
''Profitability of the On-Balance Volume Indicator''
( 2009, Vol. 29 No.3 )
In the literature, there is a lack of empirical studies documenting the profitability of volume-based technical indicators. This paper evaluates the profitability of the On-Balance Volume (OBV) trading rule. Our result shows that the OBV trading rule is increasingly profitable and rewards investors with notable returns in the stock markets of Greater China.
Keywords: On-Balance Volume, Moving Average, Market Efficiency.
Manuscript Received : Jul 20 2009 Manuscript Accepted : Sep 24 2009

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