MMA Weekly Report Nikkei Average Stock Price By Raymond Merriman Oct.18 2021
1. Retrospect
The Nikkei Stock Average ended last week at 29,068, up 1,019 from the previous week. The week's low was on Monday the 11th at 27,893. The week's high was on Friday the 15th at 29,082. The closing price for the week was above the weekly upper resistance line, so the sentiment is bullish. However, this closing price fell below the Weekly Trend Indicator Point (TIP) for three consecutive weeks. Therefore, it would normally warrant downgrading the underlying trend from “neutral” to “downtrend,” but since the week ended with a bullish candlestick on a weekly basis, the underlying trend is still interpreted as remaining “neutral.”
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