Nippon Chemi-Con remains in a corrective trend. While the 25-day moving average is capping the upside, the rising 200-day moving average is acting as support on the downside, and the stock’s price action is becoming increasingly compressed. A break above the 25-day moving average could bring the 75-day moving average, at ¥2,690, within reach.
Nippon Chemi-Con remains in a corrective trend, with its share price moving under pressure from the 25-day moving average and short-term momentum subdued.
At the same time, the rising 200-day moving average is acting as support on the downside. As the two moving averages converge, the stock’s price action is becoming increasingly compressed.
The share price is beginning to move away from the 25-day moving average, and a break above it is expected to bring ¥2,690, the level of the 75-day moving average, within reach.