MMA Weekly Report Nikkei Stock Average by Raymond Meriman Sep.7 2020
1. Review
Last week's market closed at 23,205, down 332 points from the previous week. The week's low was 23,047 on Tuesday, September 1, and the week's high was 23,580 on Thursday, September 3. Therefore, although the week's high exceeded the weekly upside resistance line, the closing price stayed between the weekly downside support line and the upside resistance line, making it a bearish trigger. Furthermore, the closing price exceeded the Weekly Trend Indicator Point (TIP) for four consecutive weeks, and on a weekly basis the close was a positive candle, so the underlying trend has been upgraded from "neutral" to an "uptrend."
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