Fanuc is a Japanese company that produces robots and CNC machinery for manufacturing. It has heavy footprints in the US and China, among other global areas. I am also a former customer and can vouch for the quality of the company’s products.
That said, in order to be constructive on Fanuc you’d want to also be constructive on the global economy and the wider Japan view, at least for the near horizon. Preamble aside…
FANUY has dropped to the support area from the top of the 2020 crash pattern as shown. What it has going for it are a clear downtrend channel to support and the whole year of 2021 manufacturing tax losses for investors. Also, it has a clear parameter for risk tolerance below 19. I added FANUY today.
I don’t have an upside target. First let’s see if it can hold support and turn up. Then maybe some targeting can come into play. It could grind around at support for a while yet.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
