MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.24 2020
1. Review
Last week's market closed up 141 points from the previous week at 25,527. The week's low was on Tuesday the 17th at 26,057. The week's high was on Friday the 20th at 25,425. Although the weekly high surpassed the upper resistance line, the close price fell short, triggering a bearish signal. However, this close price not only exceeded the Weekly Trend Indicator Point (TIP) for 5 out of 6 weeks, but also continued to post a new year-to-date high from the previous week. Therefore, the underlying trend is still viewed as maintaining an “upward trend.”
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