Jamie Coutts Comments: DJ Market Talk: Sharp Up 1.6% On Technical Rebound Analyst - Dow Jones Newswires
Sharp (6753.TO) up 1.6% at Y871 after falling 8.5% from August 6-16 primarily due to ratings downgrades. For today, "it looks like nothing more than a technical rebound," says Jamie Coutts, technical analyst at BGC Securities. Says stock would need to clear resistance at Y920-Y950 level or form a bullish divergence on MACD (Moving Average Convergence/Divergence) & RSI (Relative Strength Index) before speculating downtrend has exhausted itself.
Shares handily outperforming broader indexes, but trading volume well within stock's normal levels.