单选题 Most empirical studies of technical trading rules have found that past stock price patterns: A. do not repeat, and therefore technical analysis is profitable. B. repeat, and therefore technical analysis is not profitable. C. do not repeat, and therefore technical analysis is not profitable.

【正确答案】 C

【答案解析】The vast majority of studies have found that prices do not move in trends based on statistical tests of autocorrelation and runs. That is, past price patterns may not be repeated in the future. Efficient market followers say that the market appears to react quickly to the release of new information. This is a significant challenge to technical analysis.