NIKKEI 225 (NKY) Outperforms All equity indices, Up 2.38%; But Still in a Downtrend Over Past 14 Days

The Hourly View for NKY

Last Updated April 23, 2021, 03:018 GMT

Currently, NIKKEI 225’s price is down -15.1 (-0.05%) 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 100 hour timeframe. 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 29188.17 US dollars, up 2.38% (679.62) since yesterday. On a relative basis, today was pretty good: NIKKEI 225 bested all 14 of the assets in the equity indices class 🙂 Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Notably, NIKKEI 225 crossed above its 100 day moving average yesterday. 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. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone up 6 out of the past 10 days.