Japan ETF: the rally stalls, fresh sell signal
BBJP drops 4.2% as Japan's rally stalls into a fresh sell signal
Japan ETF: the rally stalls, fresh sell signal
Our view last week
JPMorgan BetaBuilders Japan ETF closed the week up 1.5%, with buyers running nearly 80% of trading and the weekly RSI climbing to 59. Price is now pressing against the top of its range, between the 7-day high in the 77 area and the pivot point support in the 76.1 area — a step higher than last week, when the basket was squeezed between the 75.2 and 75.3 areas. The trade's gain rises to 4.01%.
This week's summary
BBJP, the ETF tracking Japan's stock market, changes gear: after weeks higher (last week closed up 1.5%) comes a 4.2% drop and a fresh sell signal. Our BBJP technical analysis shows a picture that isn't one-sided yet: a double bottom near the 72 area with a 9% rebound, and money flow just barely positive. The quality band flags a fresh short here as not recommended.
IQS Phase
56
ordinary
Signal Strength
63
decline starting to make lower lows
Sizing
STANDARD
Ranking
#44 / 140
New us stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content