Hong Kong - Hang Seng (HASE.NDX)
Close: 19 339.00 (+265.50), May 16, 2024
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Liquidity risk: | Volatility risk: |
Short term
Hong Kong - Hang Seng is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 18500 points. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the short term. Recommendation one to six weeks:
Medium term
Hong Kong - Hang Seng has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The price has risen strongly since the positive signal from the inverse head and shoulders formation at the break through resistance at 16738. The objective at 19064 is now met, but the formation still gives a signal in the same direction. The index has broken up through resistance at points 19000. This predicts a further rise. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term. Recommendation one to six months:
Long term
Hong Kong - Hang Seng has broken through the ceiling of a falling trend channel in the long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The index has support at points 14800 and resistance at points 22600. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The index is overall assessed as technically neutral for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 1.25% | 0.00 | +1.39% |
5 days | 44.69 | 4.23% | 1 992.43 | +5.51% |
22 days | 6.96 | 10.61% | 949.40 | +15.65% |
66 days | 2.25 | 19.60% | 744.82 | +24.50% |
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