MARCH SALE: Save over 60% on our Pro Plans!

NKY dominated by bulls lifting the market higher throughout the day

Technical Analysis Report for NKY - Mar 13, 2018 [1 min read]
NKY dominated by bulls lifting the market higher throughout the day
NKY closes higher for the 4th day in a row
NKY ends the day on a bullish note closing near the high of the day
NKY finds buyers again around 21700.78
NKY rises to highest close since February 28th
TQ Sentiment
Technical Forecast:

Moving higher for the 4th day in a row, NKY finished Tuesday at 21968.10 gaining ¥144.07 (0.66%). Today's closing price of 21968.10 marks the highest close since February 28th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for NKY

Tuesday's trading range was ¥267.32 (1.23%), that's slightly below last trading month's daily average range of ¥268.17. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. Regardless of a weak opening the stock index managed to close above the prior day's open and close, forming a bullish Engulfing Candle.


Prices are trading close to the key resistance level at 22152.85. After having been unable to move lower than 21689.97 in the previous session, the index found buyers again around the same price level today at 21700.78.


While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 21971.16 where further buy stops could get triggered.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Bullish Engulfing Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Nikkei 225 Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.


Equity Indices Top Movers

BTCUSD 8,914.96345.99 4.04%
CRUDE 63.741.52 2.44%
DXY 89.9550.620 0.69%
ETHUSD 555.433.77 0.68%
NATGAS 2.7050.018 0.67%
INDU 24,682.31-44.96 -0.18%
SPX 2,711.93-5.01 -0.18%
GBPUSD 1.3997-0.0027 -0.19%
FTSE 7,038.97-22.33 -0.32%
HSI 31,414.52-135.41 -0.43%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.