SGX FTSE China A50 May Be Offering a Trading Opportunity With Its Cross Below Its 50 Moving Average

News Releases Impacting SGX FTSE China A50

  • Forecasted Retail Sales YoY in China: 3.5%. The previous number: 4.4%. (20.45% difference between the two.)

The Hourly View for SGX FTSE China A50

  • At the time of this writing, SSE50’s price is down -13.27 (-0.41%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as SGX FTSE China A50 has now gone up 8 of the past 10 hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning below 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.

SGX FTSE China A50’s hourly price chart is shown below.

SSE50

The Daily View for SGX FTSE China A50

  • At the moment, SSE50’s price is up 62.97 (1.99%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as SGX FTSE China A50 has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. The moving averages on the daily 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.
  • Divergence between SSE50’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SSE50’s price.

Below is a daily price chart of SGX FTSE China A50.

SSE50