Hong Kong: HANG SENG INDEX (.HSI) uncertainty over US-China trade talks

Hong Kong: HANG SENG INDEX (.HSI) uncertainty over US-China trade talks

Hong Kong: HANG SENG INDEX (.HSI) uncertainty over US-China trade talks

Major stock markets in Asia ended mixed on Wednesday amid concerns over the state of ongoing U.S.-China trade negotiations, after reports emerged that the White House canceled a trade planning meeting with Beijing this week.

The mainland Chinese markets, closely watched in relation to the trade war between Beijing and Washington, saw early gains but eventually lost steam. The Shanghai composite and Shenzhen component both saw slight gains to close at about 2,581.00 and 7,523.77, respectively. The Shenzhen composite rose 0.129 percent to finish its trading day at around 1,316.28.

Hong Kong’s Hang Seng index saw fractional losses, as of its final hour of trade.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 26,535.97.

The projected upper bound is: 27,963.74.

The projected lower bound is: 26,108.90.

The projected closing price is: 27,036.32.

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 28 white candles and 22 black candles for a net of 6 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 66.5292. 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 60.25. 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 69 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 75. This is not a topping or bottoming area. The last signal was a sell 1 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 11 period(s) ago.

Rex Takasugi – TD Profile

HANG SENG INDEX closed up 2.750 at 27,008.199. Volume was 20% below average (neutral) and Bollinger Bands were 23% wider than normal.

Open High Low Close Volume___
26,879.91027,131.22126,879.91027,008.1991,424,741,632

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

Moving Averages: 10-period 50-period 200-period
Close: 26,827.61 26,191.08 27,913.31
Volatility: 18 23 23
Volume: 1,737,722,624 1,609,244,544 1,842,573,568

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 3.2% 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 following two tabs change content below.
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.

You must be logged in to post comments :  
CONNECT WITH