MMA Weekly Report Nikkei Stock Average By Raymond Merriman May.10 2021
1. Review
Last week the Nikkei average closed up 545 points at 29,357 from the previous week. The week's low was 28,966 on Thursday, the first trading day after the holiday. The week's high was 29,449 on Friday the 7th. Since the closing price for the week exceeded the resistance level, sentiment remained bullish. Moreover, this closing price surpassed the Weekly Trend Indicator Point (TIP) for the first time in three weeks, so the overall trend remains “neutral.”
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