Is Momentum Changing for Hang Seng? Price Just Crossed Above Its 100 Day Moving Average

The Hourly View for Hang Seng

  • At the moment, HSI’s price is up 39.94 (0.15%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Hang Seng has now gone down 8 of the past 10 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 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.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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’s hourly price chart is shown below.


The Daily View for Hang Seng

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  • Hang Seng has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100, 20, 200 and 50 day moving averages have been crossed, so that price is now turning below them. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between HSI’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in HSI’s price.

Below is a daily price chart of Hang Seng.


Featured Hang Seng Commentary From Twitter

And of course we have another day of HSI sagging (after having a dead cat bounce) on plenty of bad news, including regulations on tech companies.

Onshore, education companies are under pressure. After-school tutoring firms have to register as nonprofits by year-end.