SSE 50 Index (SSE50) Up 1.05%; Breaks Above 20 Day Average

The Hourly View for SSE50

Last Updated April 26, 2021, 02:019 GMT

Currently, SGX FTSE China A50’s price is up 18.04 (0.51%) from the hour prior. This is the 2nd straight hour SGX FTSE China A50 has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on SGX FTSE China A50. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, 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.

SSE 50 Index Daily Price Recap

SSE 50 Index entered today at 3524.02148, up 1.05% ($36.59) from the day prior. Relative to other instruments in the equity indices asset class, SSE 50 Index ranked 5th since the day prior in terms of percentage price change. Here is a daily price chart of SSE 50 Index.

SSE50

SSE 50 Index Technical Analysis

Moving average crossovers are always interesting, so let’s start there: SSE 50 Index crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days SSE 50 Index’s price has gone down 8 them.