Sanrio's share price is expected to move from a correction phase toward a rebound, with the August high of ¥1,470 coming within reach. The stock has recently rebounded with the 75-day moving average acting as support and has exceeded the rebound high recorded on 1 September.
Sanrio remains in a corrective trend, but has recently rebounded with the rising 75-day moving average acting as support, and upward momentum has strengthened in the short term.
At the end of the previous week, the stock exceeded the rebound high of ¥1,338.5 recorded on 1 September, bringing the August high of ¥1,470 within reach as the next resistance level.
On the Ichimoku chart, the stock had previously traded within the cloud, but is reported to have formed a base at the lower cloud boundary before breaking above the upper cloud boundary.
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