YM! has recently shown a strong uptrend1. Technical Analysis
Price Trend: From the first chart, we can observe that YM! prices have been steadily increasing since early 2024, recently breaking above the 44,000-point level, indicating strong upward momentum. The trendline marked in the chart also shows that prices are rising steadily, with a recent pullback followed by a rebound.
Support and Resistance: The key support level for YM! is around 40,182 points, which is the recent low during pullbacks. If prices fall to this level, strong support is expected. On the upside, resistance may be encountered around 45,000 points, which is a psychological barrier.
Volume: Trading volume shows steady support for the price increase, indicating that the market has confidence in this upward trend.
2. Seasonal Analysis
In the seasonal data at the bottom of the chart, we can see average performance for different months of each year. Based on historical data, October, November, and December are typically strong months for YM!. For example:
November: In recent years, November has seen an average increase of 4.21%, indicating that it is usually a strong month.
December: December has an average increase of 0.70%, which is relatively smaller but still positive.
3. Short-Term Trend
The second chart shows the weekly price trend from early 2023 to early 2024. It can be seen that since January 2023, YM! prices have been steadily rising, reaching a peak in February before slightly pulling back and then continuing to climb. This trend suggests positive market sentiment and indicates further potential upside.
Conclusion:
YM! has shown strong momentum recently, with both technical indicators and seasonal data supporting further bullish movement. However, potential risks of pullbacks should be noted, especially as prices approach the resistance level around 45,000 points. If prices fall below the support level at 40,182 points, it may be necessary to reassess market conditions.
