NIKKEI 225 (NKY) Moves Up For the 2nd Straight Day, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for NKY

Last Updated November 18, 2020, 02:018 GMT

Currently, NKY’s price is up 55.02 (0.21%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NIKKEI 225 Daily Price Recap

NIKKEI 225 closed the previous day up 0.42% (107.69); this denotes the 2nd straight day it has gone up. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 3rd for the day in terms of price change relative to the previous day. Here is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to NIKKEI 225 for the past day were:

  • From Newsquawk:

    Asian markets begin on the front foot as the region takes impetus from stateside peers and with Nikkei 225 extending on best levels in nearly 3 decades after firm GDP data, although ASX 200 trade remains paused by data issue; ASX 200 (+1.2%), Nikkei 225 (+1.3%), KOSPI (+1.1%)

  • From Newsquawk:

    Asian equity markets begin mixed which is still an improvement from the losses in US, where all major indices closed a choppy session in the red amid mixed data and after recent vaccine euphoria wore off; ASX (+0.5%), Nikkei 225 (-0.7%), KOSPI (+0.3%)

  • From GregAtkinson_jp:

    Japan’s Nikkei 225 Index closed above 26,000 today. 26,014.62 +107.69 (0.42%) Too bad for those talking heads that were sure Abenomics would send the market crashing 🙂

  • From jordanfarialima:

    The Nikkei 225 index surged 1.7% on strong Q3 GDP readings. Annualized Q3 GDP growth rate came in at 21.4% QoQ, beating a 18.9% forecast.

  • From Birdyword:

    For all the people worried about vaccine-related market exuberance, the Nikkei 225 is up 0.03%