Hang Seng (HSI) Fares the Worst Out of equity indices, Down 1.28%; Crosses 100 Day Moving Average

The Hourly View for HSI

Last Updated May 4, 2021, 04:018 GMT

At the time of this writing, Hang Seng’s price is down -40.04 (-0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend 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 downtrend on the 20 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 closed the previous day down 1.28% (367.34); this denotes the 2nd day in a row a decrease has occurred. On a relative basis, Hang Seng was the worst performer out of all 14 of the assets in the equity indices asset class today. Here is a daily price chart of Hang Seng.

HSI

Hang Seng Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Hang Seng crossed below its 100 day moving average yesterday. For another vantage point, consider that Hang Seng’s price has gone up 15 of the previous 30 trading days.