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Fundamental analysis vs technical analysis: Are investors' long and short positions related to their sentiment?

Vol. 29, Iss. 7, JULY 2023

Received: 8 September 2022

Received in revised form: 10 April 2023

Accepted: 24 April 2023

Available online: 31 July 2023

Subject Heading: INVESTING

JEL Classification: G14

Pages: 1477–1495

https://doi.org/10.24891/fc.29.7.1477

Semen Yu. BOGATYREV International Banking Institute named after Anatoliy Sobchak (IBI n.a. Anatoliy Sobchak), St. Petersburg, Russian Federation
sbogatyrev@ibispb.ru

https://orcid.org/0000-0002-6080-5869

Irina A. NIKONOVA International Banking Institute named after Anatoliy Sobchak (IBI n.a. Anatoliy Sobchak), St. Petersburg, Russian Federation
irina_nikonova@mail.ru

https://orcid.org/0000-0002-6911-9435

Anna V. ZATEVAKHINA International Banking Institute named after Anatoliy Sobchak (IBI n.a. Anatoliy Sobchak), St. Petersburg, Russian Federation
zatevakhina@ibispb.ru

ORCID id: not available

Subject. This article examines the relationship between long and short positions of investors and their sentiment.
Objectives. The article aims to determine the relationship between the emotional component and the sector of investment.
Methods. For the study, we used the methods of induction and deduction, statistical methods for processing the results of observations, methods of physiognomy in determining the emotions of investment decision makers.
Results. The article reveals the content of methods for taking into account the emotions of investors when choosing an investment sector and describes the results of research on practical situations in the field of investment decision-making based on fundamental and technical analyses.
Conclusions and Relevance. When taking into account new indicators, the analyst has the means to bring the forecast result closer to real conditions, when in addition to traditional indicators, emerging combinations of traditional and psychological indicators in the markets give a new interpretation of the events taking place there. This improves the quality of analytical work and its results. The use of new indicators complements and expands the classic analytical tools, improves the quality of forecasts in the markets. The results of the research described in the article can be applied in the work of a nowadays market analyst.

Keywords: fundamental analysis, technical analysis, behavioral finance, market anomaly, quotations

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