古河電公記 十｜傷だらけの踏み返し、家臣と分かつ一息｜2026.11.04
A costly retreat, then a late foothold Furukawa Electric opened at JPY 2,746 at 09:00, 0.33% below the previous close of JPY 2,755. It recorded its JPY 2,747.5 high
A costly retreat, then a late foothold
Furukawa Electric opened at JPY 2,746 at 09:00, 0.33% below the previous close of JPY 2,755. It recorded its JPY 2,747.5 high in the same minute, fell to JPY 2,396 at 13:37 and closed at JPY 2,584.5. The daily return was −6.19% and the open-to-close return −5.88%.
The five-minute chart shows a prolonged decline followed by an afternoon recovery. The JPY 188.5 rebound from the low was 7.87%, recovering 53.63% of the high-to-low range. The close was JPY 56.549 (2.24%) above final VWAP of JPY 2,527.951. This late recovery was meaningful, while the large daily loss remained. The illustration’s “narrow victory” refers to that recovery, not a positive daily return or a confirmed trend reversal.
Volume was 27,720,300 shares, 59.42% above the previous session. This is a one-session comparison, not RVOL, and does not identify short covering, institutions or forced liquidation.
PTS was JPY 2,610 at 17:05, 0.99% above the TSE close. Unlike previous multi-session displays, this screen begins at 17:02 on 4 November and represents the early evening session. Only 1,500 shares had traded; that small sample cannot establish the next session’s direction.
Margin balances dated 30 October show 19,498,200 shares bought on margin, up 582,800, and 583,700 sold short on margin, up 47,200, from 23 October. The ratio fell from 35.26 to 33.40 because short balances grew faster proportionally; long balances did not decline. These balances do not describe today’s trading.
My reading: the close above VWAP improves the late-session picture, but the open and previous close remain unrecovered. Watch the next session’s own opening price and live VWAP; historical references are 2,396, 2,527.951, 2,584.5 and 2,746–2,755. These are reference points, not proven support/resistance. The custom panel’s NO SIGNAL/WAIT and 5.58x RVOL are recorded as displayed without treating them as validated trading rules or a whole-day volume ratio.
Market data: Kabutan; PTS: Kabutan (Japan Next Securities); chart: TradingView five-minute bars. Shared tables preserve valuations and timestamps. No catalyst or trading identity is inferred. The 9 November earnings date is Kabutan’s scheduled date, not independently verified here.
Hagakure, Book One: 「一難關を越えたる所なり。」 My translation: “It is a point where one obstacle has been overcome.” The surrounding passage discusses facing adversity. Today I apply it to the afternoon recovery, not to assuming the decline is over. Public transcription, frame 34; original scan not cross-checked.
