MMA Weekly Report Nikkei Stock Average By Raymond Merriman Feb.15 2021
1. Review
The Nikkei 225 average ended last week at 29,520, up 740 points from the previous week. The week's low was 28,817 on Monday the 8th. The week's high was 29,650 on Friday the 12th. The closing price for the week was above the upper end of the weekly resistance line, so the outlook is bullish. Furthermore, this closing price surpassed the Weekly Trend Indicator Point (TIP) for two consecutive weeks, and it refreshed the highest level since August 1990. Therefore, the overall trend has shifted from “neutral” to “on the cusp of an uptrend.”
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