Reference the Global Stock Markets segment in NFTRH 367. We noted a nice pattern on Nikkei and a couple gaps up higher to be filled. Here is the Yen-hedged ETF version of that, using DXJ.
The buy for traders would be 52 down to 51. I am taking a position today because I am more of a portfolio twittler (my lingo for manager) in this case than a trader. I am trying to balance something I am relatively bullish on (long Japan) against something I am relatively bearish on (short emerging markets). Taken at face value, this is one of those charts, along with many indexes and individual stocks, showing an incomplete bounce pattern.
Buy Target: 52 (with tolerance down to 51)
Sell Target: 57 (with potential to fill upper gap)
Stop Loss: Below 50 for traders (again, I am portfolio managing, so I could sell at any point if the macro shifts)
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
