Is is possible to develop a strategy with EOD data?

Joined
4/21/10
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Hi guys,

Since EOD data are (mostly) freely available so I can get most of instruments' EOD data and I want to try develop a strat. So I have a naive question: Is it possible to develop a profitable quant strategy with just EOD data?
 
I have some strats that are quite profitable with technical analysis already so I just want to know if I can use eod data to develop any other types of strats (ie: stat, ...)?
 
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