Hang Seng Bank HEFFX Highlights

Hang Seng Bank HEFFX Highlights

Hang Seng Bank Limited is a company mainly engaged in the banking business. Along with subsidiaries, the Company operates its business through four segments: the Retail Banking and Wealth Management segment, the Commercial Banking segment, the Global Banking and Markets segment, and the Other segment. The Retail Banking and Wealth Management segment is involved in the provision products and services to meet the personal banking, consumer lending and wealth management needs of individual customers. Personal banking products typically include current and savings accounts, mortgages and personal loans, credit cards, insurance and wealth management. The Commercial Banking offers products and services to corporate, commercial and small and medium enterprises (SME) customers, including corporate lending, trade and receivable finance, payments and cash management, treasury and foreign exchange, general insurance, keyperson insurance, investment services and corporate wealth management.

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 185.88.

The projected upper bound is: 200.04.

The projected lower bound is: 190.38.

The projected closing price is: 195.21.

HANG SENG BANK closed up 0.400 at 194.900. Volume was 33% below average (neutral) and Bollinger Bands were 33% wider than normal.

OpenHighLowCloseVolume
194.7195193.5194.91,256,388

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

Moving Averages: 10-period 50-period 200-period
Close: 190.91 190.91 193.38
Volatility: 10 17 23
Volume: 1,929,375 1,616,959 1,581,490

Moving Averages:10-period50-period200-period
Close: 190.91 190.91 193.38
Volatility 10 17 23
Volume: 1,929,375 1,616,959 1,581,490

CShort-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 BANK is currently 0.8% 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 0011.HK (bullish). Our trend forecasting oscillators are currently bullish on 0011.HK and have had this outlook for the last 23 periods. Our momentum oscillator is currently indicating that 0011.HK is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

Momentum

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 85.2381. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 8 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 78.94. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 10 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 104.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 17 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 33 period(s) ago.

Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 2 black candles for a net of 5 white candles. During the past 50 bars, there have been 28 white candles and 20 black candles for a net of 8 white candles.

A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold to be valid. When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern.

A hanging man occurred (a hanging man has a very long lower shadow and a small real body). This pattern can be bullish or bearish, depending on the trend. If it occurs during an uptrend (which appears to be the case with HANG SENG BANK) it is called a hanging man line and signifies a reversal top. If it occurs during a downtrend it is called a bullish hammer.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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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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