Hong Kong: HANG SENG INDEX (.HSI) ended firmer, led by gains in property stocks

Hong Kong: HANG SENG INDEX (.HSI) ended firmer, led by gains in property stocks

Hong Kong: HANG SENG INDEX (.HSI) ended firmer, led by gains in property stocks

The Hang Seng Index rose 1.5 percent Tuesday, building on Monday’s 0.5 percent advance. Developers China Resources Land Ltd. and Wharf Real Estate Investment Co. joined Country Garden in the top 10 performers, all adding at least 3 percent.

The top gainer on Hang Seng was Country Garden Holdings Co Ltd, which ended 6.79 percent firmer, while the biggest loser was WH Group Ltd, which closed down 0.81 percent.

Country Garden shares gained after the company said it expects its first-half profit to rise at least 50 percent from a year ago on increased sales revenues.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 29,110.91.

The projected lower bound is: 27,293.29.

The projected closing price is: 28,202.10.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 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 27.6804. This is not an overbought or oversold reading. The last signal was a buy 0 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 44.87. 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 26 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 -42. This is not a topping or bottoming area. The last signal was a buy 1 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.

Rex Takasugi – TD Profile

HANG SENG INDEX closed up 429.320 at 28,248.881. Volume was 18% below average (neutral) and Bollinger Bands were 29% narrower than normal.

Open High Low Close Volume___
27,889.43928,266.68027,843.16028,248.8811,601,910,272

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

Moving Averages: 10-period 50-period 200-period
Close: 28,362.25 29,215.95 30,019.70
Volatility: 19 20 21
Volume: 1,553,176,960 2,026,221,184 2,162,832,896

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 5.9% below its 200-period moving average and is in an upward 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 bullish on .HSI and have had this outlook for the last 4 periods.

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