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"quantity"exercise:Technical Analysis
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Questions 1:
Common stock prices are approximately lognormally distributed. Therefore, it is most likely that conventional (discrete) common stock prices are:
A、 leptokurtic.
B 、skewed to the right.
C 、skewed to the left.
Questions 2:
In Elliott Wave Theory, Wave 2 commonly exhibits a pattern best described as a(n):
A、 basing pattern consisting of five smaller waves.
B、 Fibonacci ratio percentage retracement composed of three smaller waves.
C 、uptrend moving above the high of Wave 1 and consisting of five smaller waves.
View answer resolution
【Answer to question 1】B
【analysis】
B is correct. The lognormal distribution is truncated at zero and skewed to the right (positively skewed).
A is incorrect because a leptokurtic distribution has thick tails on both sides of the distribution.
C is incorrect because the lognormal distribution is truncated at zero and is positively skewed.
【Answer to question 2】B
【analysis】
B is correct. Wave 2 is a correction, retracing much of the gain from Wave 1, but not all of it. The lost proportion is usually a percentage equal to a Fibonacci ratio, and it consists of three smaller waves.
A is incorrect because it describes Wave 1. Waves 1, 3, and 5 are uptrends, but Waves 2 and 4 are corrections.
C is incorrect because it describes Wave 3. Waves 1, 3, and 5 are uptrends, but Waves 2 and 4 are corrections.
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