HANG SENG INDEX (INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook

HANG SENG INDEX (INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook

HANG SENG INDEX(INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook

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 23,237.84.

The projected upper bound is: 24,613.10.

The projected lower bound is: 23,666.74.

The projected closing price is: 24,139.92.

HANG SENG INDEX closed down -87.102 at 24,114.859. Volume was 12% above average (neutral) and Bollinger Bands were 14% wider than normal.

Open               High                 Low                 Close                Volume
24,122.180     24,216.529     24,046.910     24,114.859     1,880,958,720

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

Moving Averages: 10-period              50-period              200-period
Close:                      23,955.18               22,893.12              22,311.32
Volatility:               11                             13                            18
Volume:                 2,393,176,320       1,763,609,728      1,727,559,552

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 8.1% 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 31 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.

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 65.5113. This is not an overbought or oversold reading. The last signal was a sell 2 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 68.40. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 81. This is not a topping or bottoming area. The last signal was a sell 2 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 35 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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