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The Tokyo Stock Price Index (東証株価指数, Tōshō Kabuka shisū), commonly known as the TOPIX, is an important stock market index for the Tokyo Stock Exchange (TSE) in Japan, along with the Nikkei 225.
On the technical analysis chart, the head and shoulders formation occurs when a market trend is in the process of reversal either from a bullish or bearish trend; a characteristic pattern takes shape and is recognized as reversal formation. [1]
A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis. When data is plotted there is usually a pattern which naturally occurs and repeats over a period. Chart patterns are used as either reversal or ...
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High volumes on the third trading day confirm the pattern. Traders look at the size of the candles for an indication of the size of the potential reversal. The larger the white and black candle, and the higher the white candle moves in relation to the black candle, the larger the potential reversal. The chart below illustrates.
The broader Topix index gained 2.35%. "The Nikkei fell by more than 1,000 in the previous four days of losses, so we can see buying towards a short-term rebound," said Maki Sawada, a strategist at ...
But with stocks at record highs, many Wall Street strategists pointed out that there were signs of resilience on a day where the Dow dropped more than 500 points and the S&P 500 fell about 1.4%.