SSE 50 Index (SSE50) Underperforms All equity indices, Down 1.6%; Crosses 20 and 200 Day Moving Averages

The Hourly View for SSE50

Last Updated April 27, 2021, 02:019 GMT

Currently, SGX FTSE China A50’s price is down -5.46 (-0.16%) from the hour prior. This is the 3rd hour in a row SGX FTSE China A50 has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on SSE50; it is now pointing up. 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

The back and forth price flow continues for SSE 50 Index, which started today off at 3467.6604 US dollars, down 1.6% (56.36) from yesterday. On a relative basis, SSE 50 Index was the worst performer out of all 14 of the assets in the equity indices asset class today. 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 below its 20 and 200 day moving averages 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. For another vantage point, consider that SSE 50 Index’s price has gone up 5 of the previous 10 trading days.