Hong Kong - Hang Seng (HASE.NDX)
Close: 22 737.00 (+623.36), Oct 4, 2024
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Liquidity risk: | Volatility risk: |
Short term
Hong Kong - Hang Seng has broken up from an approximate horizontal trend channel in the short term. This signals a continued strong development, and the index now meets support on possible reactions down towards the ceiling of the trend channel. 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 18000 points. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the index in the short term. 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 short term. Recommendation one to six weeks:
Medium term
Hong Kong - Hang Seng has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. 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 19600 points. Positive volume balance indicates that buyers are aggressive while sellers are passive, and strengthens the index. Trading volume has increased substantially lately, which may be because of fundamental news. 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 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 marginally broken up through resistance at points 22600. An established break predicts a further rise. Positive volume balance strengthens the index in the short term. Trading volume has increased substantially lately, which may be because of fundamental news. The index is overall assessed as technically positive for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 1.14% | 4 619.95 | +2.82% |
5 days | 36.12 | 3.89% | 5 590.04 | +14.11% |
22 days | 66.52 | 9.14% | 3 528.50 | +26.39% |
66 days | 46.16 | 16.78% | 1 556.02 | +28.32% |
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