The technical situation of Japan’s Nikkei 225 index is positive.
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Prices, after having overcome the graphical resistance at 29,300 points during the month of May, ripped decisively to the upside and rose above 33,750 points.
The primary trend is therefore bullish and is confirmed by the long position of the main directional indicators.
After a short consolidation pause above the support located in the 32,500-32,300 points area, necessary to discharge the strong overbought recorded by the most reactive oscillators, a new extension is therefore possible.
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The overcoming of 33,800 points will open up further room for growth, with theoretical targets at 34,400-34,500 first and towards the psychological threshold of 35,000 points later.
A possible correction will instead find a first support in the 31,500-31,400 area and a second support near 30,900 points. From a graphical point of view, then, only a return below 30,500 points could provide a negative signal.
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The following ETFs can be used to invest in the Nikkei 225 index (which contains the 225 most important stocks listed on the Japanese stock exchange):
Xtrackers Nikkei 225, ISIN LU0839027447. It is an ETF that has assets under management of EUR 1,593 mln, which provides for the physical replication of the underlying, which adopts a distribution policy (with dividends being distributed annually to investors) and is currency unhedged. The total expense ratio (TER) is 0.09% per annum.
iShares Nikkei 225, ISIN IE00B52MJD48. This ETF has €240m in assets under management, synthetically replicates the underlying (via a swap), adopts an accumulation policy (with dividends being reinvested within the fund) and is currency unhedged. The total expense ratio (TER) is 0.48% per annum.
Copyright DMF New Media – ETFWorld.co.uk
Reproduction prohibited in any form, even partial
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