An analysis of technical trading rules: The case of MENA markets

Jorg Bley, Mohsen Saad*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

7 Citations (Scopus)


We evaluate the performance of sixteen technical trading indicators across stock portfolios from thirteen MENA country markets, using a back testing approach. The individual indicators are classified as either Trend, Momentum, Volatility, or Cycle indicators. Differences in performance of individual trading indicators are identified. Outcomes are most sensitive to trading frequency and time out of market. The results suggest that MENA stock markets differ in level of efficiency.

Original languageEnglish
Article number101182
JournalFinance Research Letters
Publication statusPublished - Mar 2020
Externally publishedYes


  • MENA stock markets
  • Market efficiency
  • Technical trading indicators


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