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 stalling.

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 186.27.

The projected upper bound is: 193.80.

The projected lower bound is: 183.78.

The projected closing price is: 188.79.

HANG SENG BANK closed down -1.500 at 188.500. Volume was 19% below average (neutral) and Bollinger Bands were 3% narrower than normal.

OpenHighLowCloseVolume
188.2189.6188188.51,489,064

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages:10-period50-period200-period
Close:191.96180.66193.12
Volatility:151823
Volume:1,703,9791,634,6341,590,814

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 BANK is currently 2.4% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into 0011.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 0011.HK and have had this outlook for the last 28 periods. our momentum oscillator has set a new 14-period low while the security price 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 18.3432. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 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 54.24. 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 4 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 -74. This is not a topping or bottoming area. The last signal was a sell 4 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 2 period(s) ago.

Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 29 white candles and 19 black candles for a net of 10 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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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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