Jurnal Pamator : Jurnal Ilmiah Universitas Trunojoyo Madura
Vol 19, No 1: January - April 2026

The Accuracy of Using the Moving Average Cross Indicator in Technical Analysis of Indonesian Banking Stocks

Endang Sri Apriani (Politeknik Negeri Balikpapan)
Kety Lulu Agustin (Politeknik Negeri Balikpapan)
Dessy Handa Sari (Politeknik Negeri Balikpapan)
Nurul Musfirah Khairiyah (Politeknik Negeri Balikpapan)



Article Info

Publish Date
01 Jul 2026

Abstract

One popular technique for financial decision-making is the moving average cross. This indicator provides signals about future stock price movements. However, the accuracy of this indicator's signals will be evaluated specifically on banking stocks listed on the Indonesia Stock Exchange. Thirty Indonesian banking companies listed on the main trading board in 2026 were selected as the research stocks. A purposive sampling procedure was used to select the research subjects, with issuers on the main board having assets exceeding 100 billion Rupiah and having been listed on the market for at least three years. Issuers on the main board are considered large issuers and can attract investors' attention. The signals provided by the 30 research subjects will then be tested using logistic regression techniques using SPSS. This approach works well for research using moving averages that have been converted into dummy data. Statistical test results indicate that the moving average cross movement is insufficient to decide which banking stocks to purchase; only 46.67% of the signals from the moving average move in accordance with the signal. More comprehensive indicators in technical analysis can be added to the analysis to make decisions and pay attention to the fundamental level of the emiten. 

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Journal Info

Abbrev

pamator

Publisher

Subject

Humanities Economics, Econometrics & Finance Social Sciences

Description

PAMATOR JOURNAL is the Journal of Social Sciences, Economics and Humanities, published by the Institute for Research and Community Service Trunojoyo University, 2 times a year (April and ...