Nikkei 225 : Catching up

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03/22/2019 | 04:12 pm
Japanese equities remain on the rise, although recent sessions show more hesitation. The good performance of the semiconductor sector and a possible compromise in the trade dispute have greatly benefited Nikkei. Over the last sliding month, the main contributors to the positive configuration correspond mainly to catch-up situations.

First of all, Rakuten, which is taking advantage of this favorable climate to gain 20% over the same reference period. The online shopping website will extend its video service (Rakuten TV) to 42 countries. In the meantime, Cyberagent achieved an excellent technical rebound by taking advantage of the same proportions (+20%). The company's share, which also operates on the Internet, is using this good track record to fill a significant downward gap that opened in January.

Graphically, in daily data, the index stabilizes beyond the moving averages, which generates a positive element in the current configuration. The crossing of the 21800-point line should be the catalyst for further expansion to 22700/23000 points. On the other hand, in the event of an extension of the stabilization phase, prices could fall by 20900 points.

Patrick Rejaunier 2019
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