Hong Kong: HANG SENG INDEX (.HSI) stocks were hit by a new wave of uncertainty on the U.S.-China trade front following a series of conflicting reports

Hong Kong: HANG SENG INDEX (.HSI) stocks were hit by a new wave of uncertainty on the U.S.-China trade front following a series of conflicting reports

Hong Kong: HANG SENG INDEX (.HSI) stocks were hit by a new wave of uncertainty on the U.S.-China trade front following a series of conflicting reports

Shares in major Asian stock markets mostly slipped on Wednesday following a series of conflicting reports on U.S.-China trade that surfaced overnight.

The broad MSCI Asia ex-Japan index slipped 0.14 percent to 529.74, as of 3:22 p.m. HK/SIN.

The mainland Chinese markets recovered partially from their earlier losses but still ended their trading day lower, with the Shenzhen component declining 0.398 percent to 9,800.60 and the Shenzhen composite shedding 0.248 percent to 1,684.57. The Shanghai composite closed mostly flat at 3,090.64.

In Hong Kong, the Hang Seng index declined 0.33 percent in its final hour of trading. Shares of Chinese smartphone maker Xiaomi dropped more than 4.7 percent despite posting fourth quarter earnings that bested expectations.

Overall, the bias in prices is: Upwards.

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

The projected upper bound is: 30,139.70.

The projected lower bound is: 28,718.19.

The projected closing price is: 29,428.95.

Candlesticks

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 32 white candles and 18 black candles for a net of 14 white 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 93.4191. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 6 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 64.21. 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 16 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 127.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 6 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 1 period(s) ago.

Rex Takasugi – TD Profile

HANG SENG INDEX closed down -111.898 at 29,354.381. Volume was 18% below average (neutral) and Bollinger Bands were 38% narrower than normal.

Open High Low Close Volume___
29,357.18929,435.81129,251.25029,354.3811,422,227,072

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

Moving Averages: 10-period 50-period 200-period
Close: 28,933.28 27,992.15 27,523.55
Volatility: 19 16 23
Volume: 1,818,551,040 1,879,239,296 1,864,752,000

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 6.7% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .HSI (mildly bullish). Our trend forecasting oscillators are currently bullish on .HSI and have had this outlook for the last 44 periods.

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