8411 (Mizuho Financial Group) - Strong Upside Follow-Through
The green shaded area represents the post-idea price development.
The original idea is attached.
Mizuho Financial Group, Inc., abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "mizuho" literally means "abundant rice" in Japanese and "harvest" in the figurative sense.
Potential Swing Buy/Long.
The PEAD projected a Neutral outlook for $MFG after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 70%.
This chart indicates a strong relation of MFG (generally applies to most bank stocks) with gov yield rates - 5 year Japanese bond in this case.
Considering the chart pattern, there is still a possibility of testing a bottom for a couple of months, but the stock price should soon catch up with the yield rate.
As the downside risk is limited, we may be seeing a...
The PEAD projected a Bullish outlook for $MFG after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
The PEAD projected a Neutral outlook for $MFG after a Positive Under reaction following its earnings release placing the stock in drift B with an expected accuracy of 66.67%.
*** THIS IS NOT AN ADVICE, DO YOUR RESEARCH AND TRADE WITH YOUR OWN RESPONSIBILITY***
Symmetrical Triangle formed right on that channel lower trend line.
NIKKEI is getting bullish, USDJPY going up as well.
The rising sun is back in business.
