Mizuho Financial Group Inc. (MFG) Likely To Fall As Profits Sank To Four-Year Low
May, 13th 10:08
Mizuho Financial Group Inc., one of Japan’s biggest banks, may report the lowest profit in four years as negative interest rates squeeze lending margins and the commodity slump risks souring energy loans. Its earnings from abroad are also under pressure as Asia’s economic growth cools and provisions for bad debts in the energy sector rise. As seen on chart H1, MFG was last trading at 3.04, up 0.66% from the previous close. RSI is moving sideways and currently at 55.62, indicating that the trend is not yet clear. The stock is forecast to enter a bearish phase today if the results turn out to be worse than expected.