Technical and fundamental indicators that influence Malaysian stock price return: evidence from industrial product and services sector during a no-trend market / Muhammad Zuhair Jumat Hishamuddin Jumat

We live in astonishing time for ordinary investors. The stock market has gone from an institutional club admitting only selected professionals to a game that is wide open to individuals. The explosion of information and strategies regarding investment might be terrific for individual investors in making sound decisions. Generally speaking this information can be divided based on two main schools of thought in financial market which are fundamental analysis and technical analysis. Therefore, this research studies the significant of fundamental and technical indicators towards stock price return of industrial products and services companies listed in Bursa Malaysia during a no-trend market conditions in year 2016. Only secondary data are used in this research, which are obtained from Bloomberg Terminal and Bloomberg Anywhere. For data analysis, this study used ordinary least square (OLS) method whereby the researcher utilizes Eviews program. The data consists of five independent variables that are categorised into two groups namely fundamental indicators and technical indicators. Fundamental indicators comprise of three independent variables: net income growth, operating cash flow growth and long term debt growth. Meanwhile, technical indicators compromise of two independent variables: moving average crossover and volume growth. The expected finding in this research is that both fundamental and technical indicators are significantly affected stock price return in a positive way except for long term debt growth (negative relationship). However, the results revealed that only technical indicators significantly influence the dependent variable.