PENGARUH PEMAHAMAN TEKNIKAL ANALISIS TERHADAP KEBERHASILAN BERINVESTASI SAHAM

Abstrak

This study aims to analyze the effect of technical analysis understanding on investment success among retail investors. The results show that the understanding of technical analysis has a positive and significant effect on investment success, with a regression coefficient of 0.724 and a significance level of 0.001 (<0.05). In addition, the coefficient of determination (R Square) of 0.468 indicates that technical analysis understanding contributes 46.8% to investment success. These findings support the castle-in-the-air theory, which explains that stock price movements are influenced by market psychology and investor sentiment, making technical analysis relevant in helping investors interpret market conditions and make investment decisions. Therefore, it can be concluded that the higher the level of an investor’s understanding of technical analysis, the higher the level of investment success.