The study looked at how a specific investment strategy, called moving average timing, performed in the Taiwan stock market from 1996 to 2011. They found that this strategy outperformed just holding onto stocks. The researchers also discovered that using a 10-day moving average was more effective than longer time frames like 20, 50, 100, or 200 days, especially for high-volatility stocks. This means that following the 10-day moving average strategy could lead to better investment results in the Taiwan stock market.