albert.callisto
Short

TEPCO - daily - free fall

OTC:TKECF   TOKYO ELECTRIC POWER CO INC
20 0 0
Daily Ichimoku shows the big picture. We have a free fall for this Japanese stock . PA is currently playing around level 4.78 which is the last obstacle before diving head first towards levels seen back in middle 2015. Considering that PA broke a level at 4.9 that was more significant than the 4.7 level (see the cloud SSB             in Aug/Sept 2015), it looks like the bearish momentum has enough juice to break through.

  • Lagging span: far away from everything, only support line at 4.78 may prevent a further drop
  • Kijun: well above the PA which did not attempt to reach it again (last real attempt on 7th Jan)
  • Tenkan: same
  • Cloud: the SSB             is very bearish and the (thick) cloud is far away from the PA, indicating that the price will have a lot to do to get back at cloud level. It seems unlikely that we see in short term a reversal strong enough to get back near cloud boundaries.


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