An Integrated Technical Analysis Strategy for Zakat and Waqf Investment in Islamic Equity Markets
Keywords:
Islamic social finance, technical analysis, zakat investment, waqf investment, Islamic equity marketAbstract
Islamic social funds such as zakat and waqf have significant potential to support financial stability and national economic resilience. However, the investment management of these funds is often constrained by the limited use of systematic and measurable strategies among fund managers. This study aims to develop an integrated technical analysis strategy to support more accountable and risk-aware investment decisions in the management of Islamic social funds. The research employs a quantitative analytical method with a cross-sectional approach using historical market data. The strategy integrates three technical analysis indicators: trend lines, support and resistance levels, and moving average analysis. Empirical simulations are conducted on stocks listed in the Jakarta Islamic Index over the past five years to evaluate the performance of the proposed strategy. The results show that the integrated technical analysis strategy produces more stable and profitable returns compared to the buy-and-hold strategy, while maintaining controlled levels of maximum drawdown. These findings indicate that the integration of technical analysis tools can enhance the effectiveness of investment decisions and strengthen the role of zakat and waqf funds as instruments supporting economic stability and resilience.
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