MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jan.18 2021
1. Retrospective
The Nikkei stock average closed last week up 380 points from the previous week at 28,519. The week's low was on the 12th (Tuesday) at 28,979. The week's high was on the 14th (Thursday) at 28,979. Although the week's high surpassed the resistance line for the week, the closing price was below it, so it acted as a bearish trigger. However, since this closing price was above the Weekly Trend Indicator Point (TIP) for 10 out of 11 weeks, the underlying trend remained in an “uptrend” state.
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