MMA Weekly Report Nikkei Stock Average by Raymond Merriman Sep.27 2021
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1. Review
Last week the Nikkei Stock Average closed down 251 points from the previous week at 30,248. The week's low was 29,573 on Wednesday, the 22nd. The week's high was 30,276 on Friday, the 24th. Although the week's low broke below the lower supporting line, the closing price rebounded and surpassed it, which is a bullish trigger. Furthermore, because this closing price had remained above the Weekly Trend Indicator Point (TIP) for four consecutive weeks, the underlying trend was still maintained as an “upward trend.”
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