Análise técnica e fundamentalista no mercado de capitais: uma abordagem comparativa

Abstract

This work presents a comparison between the technical analysis and the fundamentalist when used as tools for evaluation of actions marketed at the market of capitals. The two theoretical currents are themes of frequent discussions regarding the subject: which supplies the investor a better embasament for applications more safeties of them and profitable. The technical analysis adopts the graphs, that express the last behavior of the assets. Yours begins basic it is that the quotation of an action follows patterns and tendencies that repeat, in other words, the current quotation of an action is influenced by your historical average. The analysis fundamentalist adopts the study of three important factors: the economy, the market in that the company is inserted and the accounting information. After a revision on the market of capitals and your component principal, he/she took place an evaluation of the obtained results of a hypothetical wallet of actions formed by four Brazilian companies. In a same period they received a technical treatment and a fundamentalist, what made possible a comparison among the results. The portfolio fundamentalist successful in quantitative terms in relation to the technique. Meanwhile, during the search became clear that the technical analysis determines the best time to buy or sell shares, while the fundamentalist indicates what is the best action to buy.