Hang Seng (HSI) Fares the Worst Out of equity indices, Down 1.97%; Crosses 20 and 50 Day Moving Averages

The Hourly View for HSI

Last Updated May 3, 2021, 02:018 GMT

At the time of this writing, Hang Seng’s price is down -367.63 (-1.28%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Hang Seng has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 100 and 50 hour changed directions on HSI; they are now pointing down. 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

The choppiness in the recent daily price action of Hang Seng continues; to start today, it came in at a price of 28724.88 US dollars, down 1.97% (578.38) since the day prior. On a relative basis, Hang Seng was the worst performer out of all 14 of the assets in the equity indices asset class today. Below is a daily price chart of Hang Seng.

HSI

Hang Seng Technical Analysis

First things first: Hang Seng crossed below its 20 and 50 day moving averages yesterday. For another vantage point, consider that Hang Seng’s price has gone up 9 of the previous 14 trading days.