NIKKEI 225 (NKY) Fares the Worst Out of equity indices, Breaks Below 50 and 100 Day Averages; But Still in an Uptrend Over Past 14 Days

The Hourly View for NKY

Last Updated June 1, 2021, 02:018 GMT

At the time of this writing, NIKKEI 225’s price is down -115.05 (-0.4%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below 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

The choppiness in the recent daily price action of NIKKEI 225 continues; to start today, it came in at a price of 28860.08 US dollars, down 0.99% (289.33) since the day prior. Those trading within the equity indices asset class should know that NIKKEI 225 was the worst performer in the class today. Let’s take a look at the daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

First things first: NIKKEI 225 crossed below its 50 and 100 day moving averages yesterday. 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 10 days NIKKEI 225’s price has gone up 7 them.