Mori-Gumi wave 4 bounce possible


This post is for me primarily. Here is a relatively undervalued equity paying 4% dividends and a PE of 5. Just another stock that I have decided to chart in my search for undervalued Japanese stocks.

If you think US, EU etc treasury bond yields are low try a negative yield in Japan. A 10 year bond returns -0.05% (yes negative) and a 2 year -0.156 as at the 15th of May 2019. Compared to submitting yourself to a guaranteed loss, some low to medium dividend stocks must start to look attractive to the market.

Anyway, my post is conditional; A long entry may want to wait until a small rise and then a higher low being set before entering. Making it back to the 0.382 fib level would be over 60% and the 0.236 fib level: 32%.

Now, I may have counted wrongly and the 5 wave, wave C down has already terminated (it is rather hard to tell given the price action). In that case, expect higher highs.
Comment: After the price drop of the last couple of days, the dividend yield is now over 4% (should the dividend be the same as the last).
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