Company: Fujitsu Limited
Ticker: 6702.T
Exchange: Tokyo Stock Exchange
Sector: Technology
Introduction:
Hello and welcome to our technical analysis session! Today we are focusing on Fujitsu Limited as observed on the weekly chart on the Tokyo Stock Exchange. An intriguing symmetrical triangle formation has caught our attention, which may act as a bullish continuation.
Symmetrical Triangle Pattern:
A symmetrical triangle is a price pattern characterized by converging trend lines and oscillating price within the pattern. It can serve as a continuation or a reversal signal. The breakout direction tends to predict the subsequent trend direction.
Analysis:
Preceding this consolidation phase, Fujitsu's price exhibited a clear uptrend. The ongoing consolidation phase, shaped as a symmetrical triangle, has been forming for 616 days. There are three points of contact with the triangle's upper boundary and two with its lower boundary.
Notably, this consolidation phase takes place above the 200 EMA, indicating a bullish environment. If we see a weekly candlestick close above 18400, it could serve as an opportune moment for a long position entry.
Assuming a valid breakout, our projected price target is at 26025, translating into a potential price rise of approximately 41.33%.
Conclusion:
The weekly chart of Fujitsu Limited presents a potential bullish continuation pattern in the form of a symmetrical triangle. A confirmed breakout above the triangle's upper boundary could offer a promising long position entry.
As always, please perform your own due diligence and consider appropriate risk management strategies when investing. Not financial advice!
Thank you for joining this analysis. If you found it useful, please like, share, and follow for more insightful market updates. Happy trading!
Best regards,
Karim Subhieh
Ticker: 6702.T
Exchange: Tokyo Stock Exchange
Sector: Technology
Introduction:
Hello and welcome to our technical analysis session! Today we are focusing on Fujitsu Limited as observed on the weekly chart on the Tokyo Stock Exchange. An intriguing symmetrical triangle formation has caught our attention, which may act as a bullish continuation.
Symmetrical Triangle Pattern:
A symmetrical triangle is a price pattern characterized by converging trend lines and oscillating price within the pattern. It can serve as a continuation or a reversal signal. The breakout direction tends to predict the subsequent trend direction.
Analysis:
Preceding this consolidation phase, Fujitsu's price exhibited a clear uptrend. The ongoing consolidation phase, shaped as a symmetrical triangle, has been forming for 616 days. There are three points of contact with the triangle's upper boundary and two with its lower boundary.
Notably, this consolidation phase takes place above the 200 EMA, indicating a bullish environment. If we see a weekly candlestick close above 18400, it could serve as an opportune moment for a long position entry.
Assuming a valid breakout, our projected price target is at 26025, translating into a potential price rise of approximately 41.33%.
Conclusion:
The weekly chart of Fujitsu Limited presents a potential bullish continuation pattern in the form of a symmetrical triangle. A confirmed breakout above the triangle's upper boundary could offer a promising long position entry.
As always, please perform your own due diligence and consider appropriate risk management strategies when investing. Not financial advice!
Thank you for joining this analysis. If you found it useful, please like, share, and follow for more insightful market updates. Happy trading!
Best regards,
Karim Subhieh
KSC
