Japan Stocks Set New Highs

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Japan Stocks Set New Highs

Since international equities bottomed out last year, they have been rising and resolving higher from accumulation patterns.

The chart below shows the MSCI Japan ETF (EWJ) completing a one-year reversal formation and rallying to new 52-week highs:

All Star Charts, with data provided by Optuma

Not only is momentum in a bullish regime, adding conviction to the recent breakout, but the 200-day moving average is curling higher, indicating that the trend could be shifting in favor of the bulls.

Seeing stocks in Japan and other countries set new highs is yet another piece of evidence suggesting that the global equity landscape remains strong.

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