Hong Kong - Hang Seng (HASE.NDX)
Close: 18 512.00 (+35.81), May 6, 2024
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Liquidity risk: | Volatility risk: |
Short term
Hong Kong - Hang Seng has broken the rising trend up in the short term. This signals an even stronger growth rate. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 17149. The objective at 18126 is now met, but the formation still gives a signal in the same direction. 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 17100 points. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Hong Kong - Hang Seng. 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 index has given a positive signal from the inverse head and shoulders formation by a break up through the resistance at 16738. Further rise to 19064 or more is signaled. The index is approacing resistance at 19000 points, which may give a negative reaction. However, a break upwards through 19000 points will be a positive signal. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Hong Kong - Hang Seng. 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 slightly negative for the medium long term. Recommendation one to six months:
Long term
Hong Kong - Hang Seng has broken the ceiling of the falling trend in the long term, which indicates a slower initial falling rate. 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 slightly negative for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 1.25% | 0.00 | +0.19% |
5 days | -50.91 | 4.26% | 735.99 | +4.88% |
22 days | -18.16 | 10.71% | 828.94 | +9.49% |
66 days | -4.43 | 19.97% | 681.60 | +16.43% |
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