Can investors profit by utilizing technical trading strategies? Evidence from the Korean and Chinese stock markets

Financial Innovation

Table 2 Samples of continuously rising (falling) prices

	KOSPI 50	SSE 50
	No	No
Panel A: Continuously rising prices
Continuously rising price for 2 days	10,156	11,867
Continuously rising price for 3 days	3853	4546
Continuously rising price for 4 days	1569	1893
Panel B: Continuously falling prices
Continuously falling price for 2 days	10,569	11,821
Continuously falling price for 3 days	4241	4673
Continuously falling price for 4 days	1803	1887

This table lists the numbers of continuously rising (falling) prices for 2, 3, and 4 days emitted for the constituent stocks of KOSPI 50 and SSE 50 over the data period 2009–2015
To prevent the samples from being over-counted without concerning overlapping issues, we consider another 2-day continuous rising (falling) price sample as 2 or more days after the previous sample as counted. We consider another 3-day continuous rising (falling) price sample as 3 or more days after the previous sample as counted. Lastly, we consider another 4-day continuous rising (falling) price sample as 4 or more days after the previous sample as counted