Mitsubishi UFJ Financial Group (MTU) is a Japanese based bank trying to breakout from a long term downtrend.
Mitsubishi UFJ Financial Group (MTU)
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MTU has been in major downtrend since 2009. Today it also flashed a golden cross.
The $5 key area needs to turn into support to help break the major downtrend.
iShares MSCI Japan Index (EWJ)
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We can see EWJ is trying also to breakout.
For Reference
The golden cross (technical formation when the 50-day moving average rises above 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.
