Hang Seng Index (INDEXHANGSENG:HSI) Hong Kong HEFFX Trading Outlook

Hang Seng Index (INDEXHANGSENG:HSI) Hong Kong HEFFX Trading Outlook

Hang Seng Index (INDEXHANGSENG:HSI) Hong Kong HEFFX Trading Outlook 

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

Technical Outlook
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.

Hong Kong, Asia, China, HEFFX, Hang Seng, HSI, Index, Shayne Heffernan

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.

Stochastic Oscillator
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.

MACD
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.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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