Combining a KDJ Golden Cross, Dividend Filter, and Capital Intensity

Summary

This A-share stock screen combines a KDJ golden-cross signal with a 2019 dividend payout ratio above 25% and a ranking by capital intensity. The document describes the cross as a possible indication of upward price momentum, the payout filter as a shareholder-return measure, and capital intensity as a proxy for market attention. It suggests broadening the activity measures with turnover, volume, and volume ratio, and confirming the technical signal with indicators such as MACD or Bollinger Bands.

The article provides a conceptual explanation, not empirical evidence: it reports no backtest, return series, or signal definitions detailed enough to reproduce the screen precisely. It notes that a golden cross does not guarantee a price rise, attention is not the only driver of returns, and a high historical payout does not replace analysis of financial condition and future earnings. The proposed additions are untested ideas, so the screen would require independent validation before use.

Key ideas

• The screen combines a KDJ golden cross with a 2019 payout ratio above 25%.
• It ranks candidates by capital intensity as a proxy for market attention.
• The document proposes confirming the KDJ signal with other indicators and financial measures.
• A golden cross is a possible signal, not a guarantee of rising prices.
• The article gives no backtest or measured performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.