MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jun.7 2021
1. Review
Last week the Nikkei Stock Average closed down 207 points from the previous week at 28,941. The week's low was on Wednesday the 2nd at 28,565. The week's high was on Thursday the 3rd at 29,157. Although the week's low approached the weekly downside support line, the closing price hovered between the weekly downside support line and the upper resistance line, resulting in a neutral stance. However, it remained somewhat firm. Furthermore, this closing price exceeded the Weekly Trend Indicator Point (TIP) for the second consecutive week. However, the underlying trend remained “neutral.”
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