$GCL.L correlation to TEPCOUranium equity fund $GCL.L correlated to TEPCO. Overnight action in TEPCO tends to lead uranium equities.by MitsumeM3Published 2
TEPCO - daily - free fallDaily Ichimoku shows the big picture. We have a free fall for this Japanese stock. PA is currently playing around level 4.78 which is the last obstacle before diving head first towards levels seen back in middle 2015. Considering that PA broke a level at 4.9 that was more significant than the 4.7 level (see the cloud SSB in Aug/Sept 2015), it looks like the bearish momentum has enough juice to break through. Lagging span: far away from everything, only support line at 4.78 may prevent a further drop Kijun: well above the PA which did not attempt to reach it again (last real attempt on 7th Jan) Tenkan: same Cloud: the SSB is very bearish and the (thick) cloud is far away from the PA, indicating that the price will have a lot to do to get back at cloud level. It seems unlikely that we see in short term a reversal strong enough to get back near cloud boundaries. Shortby albert.callistoPublished 0