Hang Seng (HSI) Up 1.4%; Breaks Above 100 Day Average

The Hourly View for HSI

Last Updated June 28, 2021, 02:018 GMT

At the moment, Hang Seng’s price is up 36 (0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on Hang Seng. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Hang Seng Daily Price Recap

Hang Seng came into today up 1.4% (405.76) from the open of the previous day, marking the 3rd day in a row it has gone up. Out of the 14 instruments in the equity indices asset class, Hang Seng ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Hang Seng.

HSI

Hang Seng Technical Analysis

First things first: Hang Seng crossed above its 100 day moving average yesterday. For another vantage point, consider that Hang Seng’s price has gone up 6 of the previous 10 trading days.