Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 22,618.70.
The projected upper bound is: 23,852.65.
The projected lower bound is: 22,910.39.
The projected closing price is: 23,381.52.
HANG SENG INDEX closed down -13.391 at 23,360.779. Volume was 51% below average (consolidating) and Bollinger Bands were 15% wider than normal.
Open High Low Close Volume
23,339.150 23,397.090 23,307.051 23,360.779 777,897,664
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 23,022.57 22,527.15 22,094.01
Volatility: 13 13 19
Volume: 1,282,763,264 1,608,751,360 1,681,915,520
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary Hong Kong
HANG SENG INDEX is currently 5.7% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into .HSI (bullish). Our trend forecasting oscillators are currently bullish on .HSI and have had this outlook for the last 14 periods.
HEFFX Momentum Hong Kong
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 92.0781. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.89. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 21 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 193.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 18 period(s) ago.
Latest posts by John Heffernan (see all)
- SSE Composite Index(SHA:000001) Shanghai HEFFX Outlook - February 26, 2017
- US Dollar ($) ⇨ Chinese Yuan (CN¥)(USDCNY) China HEFFX Outlook - February 26, 2017
- S&P/ASX 200 (INDEXASX:XJO) Australia HEFFX Outlook - February 26, 2017