HANG SENG INDEX (INDEXHANGSENG:HSI) Trading Outlook

HANG SENG INDEX (INDEXHANGSENG:HSI) Trading Outlook

HANG SENG INDEX (INDEXHANGSENG:HSI) Trading Outlook

HEFFX Notes Hang Seng Index

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 21,300.52.

The projected upper bound is: 23,196.35.

The projected lower bound is: 21,817.61.

The projected closing price is: 22,506.98.

Hang Seng Index closed down -29.150 at 22,465.609. Volume was 19% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open                     High                     Low                       Close                    Volume
22,464.100          22,496.750          22,402.910          22,465.609         1,346,653,312

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period              50-period               200-period
Close:                       22,122.14              21,167.16                 20,948.18
Volatility:                20                            21                              24
Volume:                   1,613,758,464    1,766,382,592        1,670,869,376

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
Hang Seng Index is currently 7.2% 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 moderate flows of volume into .HSI (mildly bullish). Our trend forecasting oscillators are currently bullish on .HSI and have had this outlook for the last 44 periods.

HSI8

HEFFX Momentum Hang Seng Index

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 92.2993. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 10 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 65.69. 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 sell 7 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 165.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 11 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 sell 4 period(s) ago.

 

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