NIKKEI 225 (NKY) Makes Big Move Relative to Two Week Trend, Down 0.04%; is Inching Close to 20 Day Average

The Hourly View for NKY

Last Updated October 28, 2020, 00:06 GMT

At the moment, NKY’s price is up $30.05 (0.13%) from the hour prior. The hourly chart shows that NKY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists 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. Of note is that the 20 and 50 hour changed directions on NKY; they are now pointing up. 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 is down 0.04% (8.54) since yesterday, marking the 2nd day in a row it has gone down. 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 yesterday. Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 days.

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 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 stocks shrug-off weakness seen in US equity futures and begin higher with Australia buoyed by M&A related-headlines and Samsung group shares in South Korea also get a mild nostalgic lift following the death of its Chairman: ASX 200 (+0.5%), Nikkei 225 (+0.1%), KOSPI (+0.2%)