Hong Kong: HANG SENG INDEX (.HSI) mostly lower tracking losses on Wall Street

Hong Kong: HANG SENG INDEX (.HSI) mostly lower tracking losses on Wall Street

Hong Kong: HANG SENG INDEX (.HSI) mostly lower tracking losses on Wall Street

Asian shares were mostly lower Monday, tracking losses on Wall Street, though a newly launched technology stocks market in Shanghai soared with its trading debut.

Prices of the 25 companies listed on the Shanghai Stock Exchange’s STAR Market more than doubled, with one company, Anji Microelectronics Technology (Shanghai) Co., Ltd. 688019, +400.15% , logging a 415% advance.

Japan’s Nikkei 225 NIK, -0.23% closed down 0.2%, the Shanghai Composite index fell 1.3% SHCOMP, -1.27% Australia’s S&P/ASX 200 XJO, -0.14% ended down 0.1%, South Korea’s Kospi 180721, -0.05% closed unchanged, and Hong Kong’s Hang Seng HSI, -1.37% dropped 1.3%. Taiwan’s Taiex Y9999, +0.66% bucked the trend with a gain of 0.6%, along with Singapore STI, -0.61% rose 0.6%.

“If I had to quantify the equity market risk, it’s 90% Fed policy, and 10% geopolitical worries as investors remain wholly captivated by the looser the policy, the better the risk opportunities,” Shayne Heffernan, CEO and Founder of Heffx, said in a note.

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 28,187.21.

The projected upper bound is: 29,162.20.

The projected lower bound is: 27,555.04.

The projected closing price is: 28,358.62.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white 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 63.7419. This is not an overbought or oversold reading. The last signal was a sell 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 50.33. 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 -31. This is not a topping or bottoming area. 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 0 period(s) ago.

Rex Takasugi – TD Profile

HANG SENG INDEX closed down -394.141 at 28,371.260. Volume was 38% below average (neutral) and Bollinger Bands were 54% narrower than normal.

Open High Low Close Volume___
28,612.27928,649.43928,303.55128,371.2601,139,058,176

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

Moving Averages: 10-period     50-period     200-period
Close: 28,459.04 27,960.84 27,552.39
Volatility: 13 18 22
Volume: 1,142,909,824 1,774,927,744 1,819,474,688

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 3.0% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 22 periods.

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HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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