NIKKEI 225 (NKY) Moves Down For the 3rd Day In A Row, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 6 out of the past 10 days.
(Last Updated January 18, 2021)
Hello! This is the news page for NIKKEI 225. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for NKY.
The moving averages on NKY indicate a trend that is clearly bullish.
The chart below illustrates.
At the time of this writing, NKY’s price is up 380.15 (1.35%) from the week prior. NKY has seen its price go up 8 out of the past 10 weeks, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 5 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows NKY’s price action over the past year.
For additional context, note that price has gone down 6 out of the past 10 days.
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.
Relative to other instruments in the equity indices asset class, nikkei 225 ranked 9th since the previous day in terms of percentage price change.
Given that we see an uptrend on the 20 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nikkei 225.
Nikkei 225 outperformed all 14 assets in the equity indices asset class since yesterday.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
Relative to other instruments in the equity indices asset class, nikkei 225 ranked 12th since yesterday in terms of percentage price change.
Relative to other instruments in the equity indices asset class, nikkei 225 ranked 3rd since the day prior in terms of percentage price change.
Price action traders may also wish to note that we see a pin bar candlestick pattern on nikkei 225.