Hong Kong: HANG SENG INDEX (.HSI) ended 0.8 percent lower

Hong Kong: HANG SENG INDEX (.HSI) ended 0.8 percent lower

Hong Kong: HANG SENG INDEX (.HSI) ended 0.8 percent lower

The Shanghai Composite Index .SSEC closed down 0.6 percent, while Hong Kong’s Hang Seng index .HSI ended 0.8 percent lower. Hopes that China and the United States could ease trade tensions helped Chinese stocks pare losses.

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 29,226.40.

The projected upper bound is: 27,890.71.

The projected lower bound is: 26,149.68.

The projected closing price is: 27,020.19.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

Momentum Indicators

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 11.9121. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 3 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 31.57. 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 33 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 -158.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 8 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 1 period(s) ago.

Rex Takasugi – TD Profile

HANG SENG INDEX closed down -223.529 at 27,100.061. Volume was 15% above average (neutral) and Bollinger Bands were 4% wider than normal.

Open High Low Close Volume___
26,871.10927,405.25026,871.10927,100.0612,204,340,736

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

Moving Averages: 10-period 50-period 200-period
Close: 27,919.10 28,837.14 30,000.88
Volatility: 19 19 21
Volume: 1,647,346,944 1,925,627,776 2,163,641,088

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 9.7% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of .HSI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .HSI and have had this outlook for the last 0 periods.

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