Softbank: Trading at top of megaphone pattern

Softbank has come under increasing scrutiny for its eye-popping investments and corporate governance practices. Investing almost a billion into a company embroiled in a massive accounting fraud scandal (Wirecard) is not what I would characterize as best use of shareholders' capital.

Starting from the 2009 trough, the stock has completed 5-waves up with the price action over the last 5 years culminating in a bearish megaphone pattern.

Kommentera:

Apologies, I meant to type "...price action over the last 2.5 years culminating..."