The idea of value investment strategy came from Benjamin Graham, he believed that investors should buy stocks with higher book-to-market (B/M) ratio. Piotroski (2000) chose nine fundamental-based signals as an aggregate signal measure, F_Score, and showed that a portfolio with higher F_Score outperformed a portfolio with higher B/M ratio. This study, based on Piotroski's (2000) F_Score, is amend as the ＂H_Score＂ stock selection strategy to consider the environment of Taiwan stock market with additional variance of cash flow and corporate governance. We also expect that the H_Score stock selection strategy outperforms F_Score stock selection strategy. It also uses three technical indicators: KD, MACD, and RSI as the base of H_Score stock selection strategy manipulation. The result shows that H_Score stock selection strategy is a good strategy for long-term investment, which has higher return and lower volatility. However, our study also show that technical analysis can't improve the return of H_Score stock selection strategy. The reason might include: 1. Technical analysis is more effective in short-term investment, so when we use it in long-term investment, technical analysis couldn't improve the performance. 2. H_Score stock selection strategy not only selects financially strong firms by fundamental-based signals but also selects firms with high B/M ratio, so using technical analysis as the base of this strategy's manipulation cannot improve the performance.