NIKKEI 225 (NKY) Heads Down For the 3rd Consecutive Day, Crosses 20 Day Moving Average; Doji Pattern Appearing on Chart

The Hourly View for NKY

Last Updated October 29, 2020, 00:06 GMT

At the moment, NKY’s price is up $55.05 (0.24%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIKKEI 225 Daily Price Recap

NIKKEI 225 came into today down 0.29% (67.29) from the open of the previous day, 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 2nd for the day in terms of price change relative to the previous day. Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Notably, NIKKEI 225 crossed below its 20 day moving average yesterday. Volatility for NIKKEI 225 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIKKEI 225’s price has gone down 9 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing doji pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to NIKKEI 225:

  • From GearoidReidy:

    Over at Nexon, @owenmahoney (pictured in the first tweet) has been in charge in 2014. Having overseen a sevenfold growth in its share price, Nexon is now one of the 50 biggest companies listed in Japan, and is now set to join the blue-chip Nikkei 225 on Thursday.

  • From Newsquawk:

    Asia begins lower after the mixed performance of stateside peers amid cautiousness moving into earnings season and the election, while disruption concerns also weigh on sentiment with France and Germany both mulling lockdowns; ASX 200 (-0.2%), Nikkei 225 (-0.4%), KOSPI (-0.2%)