Hong Kong: HANG SENG INDEX (.HSI) Trade deal hopes buoy stocks
World shares rose to three-month highs on Monday, boosted by hopes for a trade deal and strong U.S. corporate earnings, while the dollar dipped from its highest in a week before a Federal Reserve rate decision.
MSCI’s All Country World Index, which tracks shares across 47 countries, was up 0.1% on the day and at its highest level since July 25.
European shares climbed to their highest since February 2018, helped by trade-exposed auto and mining stocks. The pan-European STOXX 600 index was up 0.1% by 1237 GMT.
The pound edged up after the European Union agreed to extend the deadline for Brexit until Jan. 31, 2020. It last traded 0.1% higher at $1.2844.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 27,683.26.
The projected lower bound is: 26,155.10.
The projected closing price is: 26,919.18.
A white body occurred (because prices closed higher 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 22 white candles and 28 black candles for a net of 6 black 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 64.8177. This is not an overbought or oversold reading. The last signal was a sell 5 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 59.18. 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 48 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 86. This is not a topping or bottoming area. The last signal was a sell 5 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 buy 10 period(s) ago.
Rex Takasugi – TD Profile
HANG SENG INDEX closed up 223.869 at 26,891.260. Volume was 7% below average (neutral) and Bollinger Bands were 26% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 26,717.15 26,327.27 27,706.90
Volatility: 11 19 19
Volume: 1,414,120,832 1,650,634,752 1,783,268,224
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 2.9% below its 200-period moving average and is in an upward trend. Volatility is relatively normal 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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