Here’s my game plan for Kioxia heading into Monday, July 27th.
It’s day one of a make-or-break week, and this trading session is gonna be a big one.
Friday took a brutal hit with a roughly 9.5% drop. But looking closely at the damage, this Sell-off wasn’t really triggered by company-specific bad news. It was mostly driven by geopolitical tensions, a general risk-off mood hitting AI and semi stocks across the board, and a few catalysts coming out of South Korea. While the stock kept sliding in PTS (After-Hours), Sunday brought a classic turnaround that flipped those Friday bearish drivers upside down 😄
On top of that, Sunday crude oil CFDs dropped, signaling that the market is already starting to price in a cooling down of geopolitical risks.
The real kicker here: neither the US markets nor Kioxia’s PTS have had the chance to fully digest this weekend’s fresh developments.
Bottom line? Since the main reasons behind Friday’s slump have partially cleared up, it wouldn’t surprise me at all if we see a solid bounce right at the open. In fact, we might even see some serious short-covering from traders who rushed into short positions a bit too early.
🎯 The Main Game Plan
Taking all this into account, here is the baseline scenario I’m betting on:
- Market Open: Hovering right around ¥62,000.
- Intraday Push: Short-covering kicks in, driving the price up toward the bottom edge of the Ichimoku Cloud around ¥65,000.
- Closing Action: It absorbs the sell-side pressure and settles down between ¥62,000 and ¥63,500, forming a bullish candlestick with a long upper shadow.
If momentum really builds up, we might even see a massive green candle slicing straight into the cloud! 😆
Good luck out there 🤞
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Investing in financial markets involves significant risks and is not suitable for every investor. You may lose some or all of your initial investment. Past performance is not indicative of future results, and there is no guarantee that any investment strategy will be successful. It is essential to conduct thorough research or consult with a financial advisor before making investment decisions. Always be prepared for market volatility and understand your risk tolerance.
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