MMA Weekly Report Nikkei Stock Average By Raymond Merriman Mar.8 2021
1. Review
Last week the Nikkei Stock Average closed down 101 points from the previous week at 28,864. The week's high was on Tuesday the 2nd at 29,996. The week's low was on Friday the 5th at 28,308. Although the weekly high temporarily broke above the resistance line, the market that fell back approached the weekly lower support line at the low. However, from there it rebounded and, since the closing price moved between the weekly lower support line and the upper resistance line, the overall trend appeared mixed. Still, the closing price for the week remained below the Weekly Trend Indicator Point (TIP) for two consecutive weeks, suggesting the underlying trend remains “neutral.”
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