In the Tokyo stock market on Monday, March 30, the Nikkei Stock Average temporarily plunged more than 5% from the previous week's close due to the deteriorating situation in the Middle East, butStrong buying emerged just shy of the psychologically significant '50,000 yen' level,the decline narrowed (down 2.79%) by the close. A risk-off sentiment driven by rising crude oil prices and inflation concerns is expected to continue for some time, and technically, the trendline from the recent high seems likely to cap the index’s upside. However, there are also signs of certain strength in buying power. Further negative factors or declines in US stocks coulda break below 50,000 yen, with technical support eyed at 48,000 yen, followed by 46,000 yen,as key levels to watch.
● First Support: 50,000 yen(Psychological level & 30-day line in focus)
●Second Support: 48,000 yen(Technical milestone)
●Defense line: ¥46,000 level(Weekly chart gap-fill level)
Many in the market expect that after external conditions improve—such as prospects for the end of the war and stabilization of crude oil prices—the recent decline will be seen as a buying opportunity, with hopes for a rebound scenario.Price movements and future outlook of popular stocks with high trading volumes at moomoo Securitiesto check.
＜Popular stocks at the start of the year...