NIKKEI 225 (NKY) Underperforms All equity indices, Moves Down For the 3rd Consecutive Day; But Still in an Uptrend Over Past 30 Days

The Hourly View for NKY

Last Updated November 24, 2020, 01:05 GMT

At the time of this writing, NKY’s price is up $689.97 (2.7%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning above them. 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 the previous day, marking the 3rd consecutive day it has gone down. Those trading within the equity indices asset class should know that NIKKEI 225 was the worst performer in the class today. Below 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.

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 Newsquawk:

    Asia takes impetus from Wall St handover amid several bullish factors including vaccine hopes, strong data & reports Biden is to pick former Fed Chair Yellen as Treasury Secretary, while GSA also announced to begin transition; ASX 200 (+1.2%), Nikkei 225 (+1.9%), KOSPI (+0.5%)

  • From KelvinSCWong:

    Good morning Asia! Start of a bran new week. No major movement so far on major stock indices futures; positive so far modestly
    SP 500 $ES_F +0.2% (3561)
    Nasdaq 100 $NQ_F +0.3%(11943)
    Nikkei 225 $NKD_F +0.5% (25803)

  • From MiraeAssetID:

    [INDEX UPDATE]
    Nikkei 225 (Off) Labor Thanksgiving Day | KOSPI (+0.41%) 2,563.92 – OPEN | S&P ASX/200 (+0.84%) 6,594.00 – OPEN