Nikkei 225 : A consolidation phase

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02/27/2019 | 05:03 pm
With one month to go before the fiscal close in Japan, the Nikkei is stabilizing at its current levels, the highest in the year with an increase of 7% over 2019.

The main contributors to the index increase were in sector diversity, with SoftBank achieving 41% over the past two months, preceding Olympus at 46%. Another electronics manufacturer Taiyo Yuden +41%, completes the podium with substantial gains.

Technically, in daily data, prices remain perched on the upper zone of 21400/21500 points, despite a divergence of the different moving averages days.

To begin a consolidation phase, it would be necessary to drop below 20850 points, which would make it possible to set a downward target close to 20150 points and then, by extension, the 19150 points. On the other hand, a graphic crossing beyond 21800 points would pave the way for more ambitious objectives, towards 22500 points.
Patrick Rejaunier 2019
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