Hong Kong: HANG SENG INDEX (.HSI) stocks end with healthy gains
Hong Kong stocks rose Thursday as trade hopes returned following a report saying US and Chinese officials were closing in on a mini deal.
The Hang Seng index added 0.59 percent, or 154.48 points, to 26,217.04.
The benchmark Shanghai Composite Index added 0.74 percent, or 21.35 points, to 2,899.47 and the Shenzhen Composite Index, which tracks stocks on China‘s second exchange, rallied 1.15 percent, or 18.45 points, to 1,626.97.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 26,991.37.
The projected lower bound is: 25,440.15.
The projected closing price is: 26,215.76.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 23.4317. 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 42.06. 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 sell 19 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 -102.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 13 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
HANG SENG INDEX closed up 154.479 at 26,217.039. Volume was 25% below average (neutral) and Bollinger Bands were 31% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 26,581.19 26,626.62 27,654.72
Volatility: 18 19 19
Volume: 1,502,616,448 1,502,607,744 1,752,558,080
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.
HANG SENG INDEX is currently 5.2% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of .HSI (mildly bearish). Our trend forecasting oscillators are currently bearish on .HSI and have had this outlook for the last 10 periods.