Hang Seng (HSI) Down 0.49%; Pin Bar Pattern Appearing on Chart

The Hourly View for HSI

Last Updated May 6, 2021, 03:017 GMT

Currently, Hang Seng’s price is down -309.1 (-1.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, so that price is now turning below them. 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

The choppiness in the recent daily price action of Hang Seng continues; to start today, it came in at a price of 28417.98 US dollars, down 0.49% (139.16) since yesterday. Relative to other instruments in the equity indices asset class, Hang Seng ranked 12th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Hang Seng.


Hang Seng Technical Analysis

For another vantage point, consider that Hang Seng’s price has gone up 8 of the previous 14 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!