DECISION UNDER RISK CONDITIONS: ADVANTAGES OF TECHNICAL ANALYSIS FOR ARABIC COFFEE FUTURE CONTRACTS IN BM&FBOVESPA

Authors

  • Cristiano Hayakawa Seii
  • Viviani Silva Lírio
  • Daniel Arruda Coronel Universidade Federal de Viçosa (UFV)

DOI:

https://doi.org/10.5380/rcc.v5i2.31294

Keywords:

FINANÇAS

Abstract

The objective of this study was to verify the applicability of the technical analysis of Arabica coffee futures contracts negotiated in BM&FBovespa in period 1992 to 2009. In this regard, we used Arithmetic Moving Average (AMA), Exponential Moving Average (EMA), Convergence and Divergence of Moving Averages (CDMA) and the Relative Strength Index (RSI).) The results indicated that the use of technical analysis methods applied to arabica coffee futures contracts reduced, significantly, the variation in returns earned, independently of the normality or not of the market conditions. Consequently, the amount of capital intended to maintain the margin of security of the operations performed was also reduced.

Author Biographies

Cristiano Hayakawa Seii

Viviani Silva Lírio

Professora Associada do Programa de Pós-Graduação em Economia Aplicada da Universidade Federal de Viçosa (UFV) e Bolsista de Produtividade do Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq). E-mail: vslirio@ufv.br

Daniel Arruda Coronel, Universidade Federal de Viçosa (UFV)

Professor Adjunto da Universidade Federal de Santa Maria (UFSM)

Doutor em Economia Aplicada pela Universidade Federal de Viçosa (UFV)

Mestre em Agronegócios pela Universidade Federal do Rio Grande do Sul (UFRGS)

Economista pela UFSM

Downloads

Published

2013-09-15

How to Cite

Seii, C. H., Lírio, V. S., & Coronel, D. A. (2013). DECISION UNDER RISK CONDITIONS: ADVANTAGES OF TECHNICAL ANALYSIS FOR ARABIC COFFEE FUTURE CONTRACTS IN BM&FBOVESPA. Revista Contabilidade E Controladoria - RC&C, 5(2). https://doi.org/10.5380/rcc.v5i2.31294

Issue

Vol. 5 No. 2 (2013): v. 5, n. 2 (2013)

Section

Articles

License

Copyright (c) 2013 Revista Contabilidade e Controladoria - RC&C

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The works published in RC&C. Journal of Accounting and Management Control are subject to the following terms:

1.1. RC&C. Journal of Accounting and Management Control, through the Graduate Program in Accounting of the Department of Accounting – Sector of Applied Social Sciences – Federal University of Paraná, retains the ownership rights (copyright) of the published works and encourages and allows their reuse under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0), so that they may be copied, used, disseminated, transmitted, and publicly displayed, provided that:

1.1.a. The authorship and original source of publication (journal, publisher, URL, and article DOI) are properly cited.
1.1.b. They are not used for commercial or profit-making purposes.
1.1.c. The existence and specifications of this license are mentioned.

1.2. Each article published will be assigned a Digital Object Identifier (DOI).