Hong Kong: HANG SENG INDEX (.HSI) markets mixed

Hong Kong: HANG SENG INDEX (.HSI) markets mixed

Hong Kong: HANG SENG INDEX (.HSI) markets mixed

Asia markets were mixed on Monday as energy stocks declined after oil prices fell last week to their lowest levels in more than a year.

Chinese markets erased earlier gains to close lower: The Shanghai composite was down 0.14 percent to close at around 2,575.81 while the Shenzhen composite slipped 0.316 percent to 1,330.92.

Hong Kong’s Hang Seng index gained 1.62 percent in late-afternoon trade.

Investors are looking ahead at a highly anticipated meeting between President Xi Jinping and President Donald Trump at the upcoming G-20 summit in Buenos Aires, Argentina, which is scheduled to happen at the end of this week.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 27,550.55.

The projected lower bound is: 25,203.05.

The projected closing price is: 26,376.80.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 5 rising windows in the last 50 candles–this makes the current rising window even more bullish.

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 67.5131. This is not an overbought or oversold reading. 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 55.71. 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 30 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 12 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 17 period(s) ago.

Rex Takasugi – TD Profile

HANG SENG INDEX closed up 448.500 at 26,376.180. Volume was 8% below average (neutral) and Bollinger Bands were 12% narrower than normal.

Open High Low Close Volume___
26,099.35026,413.76026,031.90026,376.1801,661,837,312

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

Moving Averages: 10-period 50-period 200-period
Close: 26,024.13 26,191.99 28,814.14
Volatility: 20 29 25
Volume: 1,382,416,000 1,855,808,896 2,008,120,576

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
HANG SENG INDEX is currently 8.5% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 7 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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