Hang Seng (HSI) Heads Up For the 2nd Day In A Row, Price Base in Formation Over Past 30 Days; Nears 50 Day Moving Average

The Hourly View for HSI

Last Updated April 26, 2021, 02:017 GMT

At the time of this writing, Hang Seng’s price is up 118.45 (0.41%) from the hour prior. This is the 2nd straight hour Hang Seng has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 1.12% (323.41) from the open of yesterday, marking the 2nd day in a row an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Hang Seng ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of Hang Seng below illustrates.

HSI

Hang Seng Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. 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. For another vantage point, consider that Hang Seng’s price has gone up 9 of the previous 14 trading days.