Hang Seng (HSI) 3 Day Up Streak Snapped, Crosses 20 Day Moving Average; Price Base in Formation Over Past 30 Days

The Hourly View for HSI

Last Updated April 22, 2021, 03:017 GMT

Currently, Hang Seng’s price is up 106.01 (0.37%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 200 hour changed directions on HSI; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Hang Seng Daily Price Recap

Hang Seng is down 1.76% (513.81) since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 14 instruments in the equity indices asset class, Hang Seng ended up ranking 13th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Hang Seng.


Hang Seng Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Hang Seng crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Hang Seng’s price has gone up 6 them.