Japan’s top fashion e-retailer Zozo, reportedly, will give Yahoo Japan full control over it for a 400 billion-yen takeover amount. Converted into dollars, the famous web services company is bidding $3.70 billion to acquire Zozo.
The Tokyo-based online fashion store would enable Yahoo Japan to have a more comprehensive array of services and compete against rivals...
Looks like completed bearish shark pattern. Looks like uptrend loosing power. Maybe hacks steal was the trigger for down trend.
On 1H chart we broke 240 MA, made pullback. We are on top of trend line, third attempt. If it holds we could go down.
It looks like wave (c) of B finished or going to do so.
Yellow (c) already hit the 200% distance of wave (a) in white B.
Wave B in its turn has hit the 61.8% of wave A.
All conditions point to imminent drop in price.
MACD shows bearish divergence - price is up as MACD is falling.
Target for the drop = $19.6 where the C=A.
2-Breakout of incline resistance
3-Realisation of channel
4-Formation of flag
Buy 42.70-42.80 (breakout of top flag's line)
Stop-loss 41.72 (-1 tic flag's low price)
Target 50.00 (sizing)