本研究主要探討以基本面、技術面、籌碼面建構的投資策略，提升投資績效，研究期間自2021年3月至2022年2月，以台灣證券交易所上市櫃的電動車概念股為樣本，透過總體經濟面、電動車概念股產業分析及基本面分析，篩選出電動車電池正極材料公司為研究對象。並以技術面、籌碼面組合投資策略，實證研究對投資報酬率之影響。 本研究實證發現基於MACD指標黃金交叉向上後和MA5與MA10移動平均線指標黃金交叉向上後的對照組投資策略，得到平均年化報酬率78%的正報酬，把對照組投資策略加上籌碼指標：成交均量與三大法人買賣超的優化條件，組合成的研究組投資策略，可獲得平均96%的正報酬，兩組策略均大於加權指數的9%正報酬，略低於同期間買進長期持有115%的正報酬。研究組平均年化報酬率優於同期間對照組平均年化報酬率及加權指數年化報酬率。實證得知基本面、技術面、籌碼面與投資報酬率均為正相關，組合之投資策略發揮相輔相成作用，可提升投資報酬率。;This research mainly discusses investment strategies based on fundamentals, technical aspects, and chip aspects to improve investment performance. During the research period from March 2021 to February 2022, the electric vehicle concept stocks listed on the Taiwan Stock Exchange were taken as samples. Through the overall economic, electric vehicle concept stock industry analysis and fundamental analysis, the electric vehicle battery cathode material companies are selected as the research objects. And with technical and chip portfolio investment strategies, empirical research on the impact of investment returns.
This research empirically finds that the investment strategy of the control group based on the golden cross of the MACD indicator and the golden cross of the MA5 and MA10 moving average indicators will obtain a positive return with an average annualized rate of return of 78%. : The optimal conditions for the average transaction volume and the three legal person’s trading excess, the research group investment strategy combined can obtain an average positive return of 96%. The two groups of strategies are both greater than the 9% positive return of the weighted index, which is slightly lower than the long-term purchase in the same period. Holds a positive return of 115%. The average annualized rate of return of the research group was better than the average annualized rate of return of the control group and the weighted index annualized rate of return during the same period. Empirical evidence shows that fundamentals, technicals, chips and ROI are all positively correlated, and the investment strategy of the portfolio plays a complementary role and can improve ROI.
