I'm not a chartist, but...
If you look at the chart of Softbank
quote.yahoo.co.jp
For the last 3 cycles, I assume that the red line is the 30 day moving average and the blue line is the 90 day moving average? In any case, for the last 3 cycles, after a runup, the price just touches the red line, or goes just below it, never dipping below the blue average line.
Judging from the chart, then, one would expect a dip to 60,000 yen or just slightly below for the current correction. Of course this is affected by news and events, etc., but I found the apparent regularity of this particular stock quite interesting.
Jonas |
