The Nikkei 225 is right in the middle of an uptrend channel that it looks quite foolish to bet against for now. The channel itself is an extension of the Tokyo stock benchmark's long, consistent rise up from the lows of late March. It probably gives us more usable clues than would a broader band encompassing all trade since that date, as it has seen more tests of both the upside and the down. That upside now comes in above the market at ...
The Nikkei 225 has powered up to 26-year highs this week and this is only the latest chapter of an astonishing run higher which began in early September. Fundamentally the Tokyo equity benchmark’s vigour is partly explained by the return of Prime Minister Shinzo Abe in October’s snap election. A better-than-expected second-quarter earnings season has also helped. Around 62% of listed companies managing to beat estimates, with heavyweights like ...
The break below 16,000 seemed to have put the spotlight again on a prior low at around 15,800, as the level appears to be acting as support again, stalling further downside momentum for the moment. A move below might put the focus on the 15,380 support followed by a longer term range bottom around 15,000. The index seems to test the trend line and the 16,000 level for resistance. If price can manage a break above, levels of interest could ...
Nikkei 225 is on the secondary correction within the primary bullish market condition: the weekly price is crossing 100 SMA from above to below to be reversed from the primary bullish to the ranging bullish market condition to be located between 100 SMA/200 SMA area."Nikkei 225 fell past 18,000 to test 23.6% Fibonacci at 17,847. Downtrend signal has resumed in moving averages after a correction period during late December. More short positions could ...
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