MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.30 2020
1. Review
Last week the market closed up 1,117 points from the previous week at 26,644. The week's low was 26,706 on Tuesday the 24th. The week's high was 26,706 on Wednesday the 25th. The closing price for the week was above the weekly upside resistance line, suggesting a bullish stance. Furthermore, this closing price not only surpassed the weekly Trend Indicator Point (TIP) for 6 out of 7 weeks, but also this past week continued to reach a new year-to-date high following the prior week. Therefore, the overall trend is still considered to be an “uptrend.”
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