NIKKEI 225 (NKY) Heads Down For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

The Hourly View for NKY

Last Updated November 23, 2020, 02:018 GMT

At the moment, NKY’s price is down -10 (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NKY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 0.42% (106.97) since yesterday, marking the 3rd consecutive day a decline has happened. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 11th for the day in terms of price change relative to yesterday. 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. Or to view things another way, note that out of the past 30 days NIKKEI 225’s price has gone up 15 them.