NASDAQ:AAXJ The break of the wave iv of (c) of ((ii)) high at 64.86 indicates the likely completion of a zig-zag correction in AAXJ. The pattern displays a perfect corrective channel and ideal Fibonacci proportions. Downside should remain corrective against the wave ((ii)) low of 60.92 as price develops higher towards the wave (b) of ((ii)) high of 70.63 and...
Channel breakout. 5 waves impulsive move to the upside. we might see pullback to the grey box to complete wave (2)
I predict EEMA or MSCI Emerging Markets Asia and AAXJ or MSCI Asia ex Japan are Bottoming. There are Bullish Divergence between the ETFs and RSI 14. This means that stock market in Asia is ending the Downtrend and starting to Uptrend.
Filled the gap and technically overbought. Expect this to retest Support
AAXJ broke the trend line. 70.11-68.83 is the next horizontal support range. Not touching this until it holds a support. Wouldn't be surprised if it drops all the way down to long term diagonal support
I sold out of AAXJ at 76 when it failed at my price target. I will reenter on weakness. Right now it looks overbought to me
My price target has been met. Let’s see if it holds. If we break this resistance line the next horizontal line of resistance is around 76.88
AAXJ held support at 72.45 on the daily chart. My next target is ~74.60.
$AAXJ has held support at 70.11. If it breaks resistance and holds at 72.45 next major resistance range is 74.55. Looks like a double bottom has formed as downtrend resistance has been broken