MMA Weekly Report Nikkei Stock Average By Raymond Merriman Jun.21 2021
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1. Review
Last week the Nikkei Stock Average closed up 15 points from the previous week at 28,964. The week's high was on the 15th (Tuesday) at 29,480. The week's low was on the 17th (Thursday) at 28,875. Although the week's high exceeded the upper resistance line, it then declined from there and closed below it, which triggered a bearish signal. Furthermore, this closing price stayed above the Weekly Trend Indicator Point (TIP) for four consecutive weeks. Therefore, the underlying trend has shifted from “neutral” to an “uptrend.”
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