NIKKEI 225 (NKY) Up 0.16%, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

The Hourly View for NKY

Last Updated April 1, 2021, 00:019 GMT

Currently, NIKKEI 225’s price is up 25 (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Of note is that the 20 hour changed directions on NKY; it is 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 came into today up 0.16% (48.18) from the open of the day prior, marking the 4th straight day an increase has occurred. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 10th for the day in terms of price change relative to the day prior. The daily price chart of NIKKEI 225 below illustrates.

NKY

NIKKEI 225 Technical Analysis

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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. Or to view things another way, note that out of the past 30 days NIKKEI 225’s price has gone up 16 them.