Hong Kong - Hang Seng (HASE.NDX)

Short term

Hong Kong - Hang Seng has broken the falling trend channel down in the short term, which indicates an even stronger falling rate. The index has support at points 18000 and resistance at points 20000. The index is assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative

Medium term

Hong Kong - Hang Seng shows strong development within a rising trend channel in the medium long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The index has met the objective at 19719 after a break of the inverse head and shoulders formation. The price has now fallen, but the formation indicates further rise. The index has broken down through support at points 19600. This predicts a further decline. In case of positive reactions, there will now be resistance at points 19600. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold

Long term

Hong Kong - Hang Seng is in a falling trend channel in the long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. The index is moving within a rectangle formation between support at 15028 and resistance at 23133. A decisive break through one of these levels indicates the new direction for the index. The index has support at points 14800 and resistance at points 22600. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the falling trend and could be an early signal of a coming trend break. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold