NIKKEI 225 (NKY) Up 1.73%; Price Base in Formation Over Past 14 Days

The Hourly View for NKY

Last Updated November 6, 2020, 00:05 GMT

At the time of this writing, NKY’s price is up $70.01 (0.29%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NKY has now gone up 12 of the past 14 hours. Regarding the trend, note that the strongest trend exists on the 20 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

NIKKEI 225 closed yesterday up 1.73% (410.05); this denotes the 3rd consecutive day it has gone up. 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 yesterday. Let’s take a look at the daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days NIKKEI 225’s price has gone down 8 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about NIKKEI 225:

  • From Newsquawk:

    Asia equity markets take impetus from the tech-led rally in US as further results of the US election trickled in which shows Biden in the lead but unlikelihood of a Blue sweep; ASX 200 (+0.6%), Nikkei 225 (+1.0%), KOSPI (+1.4%)

  • From wheeliedealer:

    Nasdaq Comp got near top Bollinger and fell back. Might drop to try to ‘fill the Gap’ soon. NIKKEI 225 interesting because up near 20 year High or something and Breakout over 24448 would be very Bullish.

  • From HichFX:

    S&P 500 May Lead Nikkei 225 Higher as Biden Wins Key Swing States | #Forex