SoftBank Group Corp. (9984.T) calls for fight against racial injustice Sets Up $100m Fund
Japanese tech conglomerate SoftBank group will begin a $100 million fund dedicated to companies led by founders and entrepreneurs of color, as protests over racial injustice and police brutality erupt across the U.S.
The Opportunity Growth Fund will be the biggest fund providing capital to black Americans and people of color, the company said.
SoftBank group Chairman and CEO Masayoshi Son announced on Twitter in Japanese that “racism is a tragedy,” and he said the new fund will help black and Latino entrepreneurs who have been prevented from succeeding due to social injustices.
“Our focus will be on businesses that use technology to disrupt traditional business models,” Marcelo Claure, SoftBank Group’s chief operating officer, said in a letter to employees.
Claure also said the fund “will not take a traditional management fee, but instead will seek to place as much capital as possible into the hands of founders and entrepreneurs of color.”
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 1,405.18.
The projected upper bound is: 1,447.89.
The projected lower bound is: 1,288.37.
The projected closing price is: 1,368.13.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 24 white candles and 23 black candles for a net of 1 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.1463. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.60. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 14. This is not a topping or bottoming area. The last signal was a buy 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.
Rex Takasugi – TD Profile
SOFTBANK closed up 2.500 at 1,370.000. Volume was 35% below average (neutral) and Bollinger Bands were 46% wider than normal.
Open High Low Close Volume 1,372.500 1,377.000 1,366.500 1,370.000 7,577,200
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 1,355.05 1,393.20 1,461.73 Volatility: 28 37 23 Volume: 21,321,030 12,049,394 10,160,524
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
SOFTBANK is currently 6.3% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 9434.T at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on 9434.T and have had this outlook for the last 9 periods.
We invite you to try out any MetaStock product (including Add-Ons) for 30 days. If you are not convinced that it helps you make more accurate, educated trading decisions, just return it to us within the 30 days for a refund of the purchase price. It’s that simple. This policy does not apply to subscriptions.
Latest posts by HEFFX (see all)
- Tesla Is Hiring Someone To Defend Elon Musk And Fend Off Attacks By Twitter Trolls - January 20, 2021
- PayPal Will Continue To Profit From A Huge Increase In Volume And Accounts - January 20, 2021
- Google’s Ethical AI Division Investigating Sharing of Sensitive Documents - January 20, 2021