Hang Seng (HSI) Down 0.53%, in an Uptrend Over Past 14 Days; Nears 100 Day Moving Average
Out of the 14 instruments in the equity indices asset class, hang seng ended up ranking 6th for the day in terms of price change relative to the previous day.
Hang Seng
(Last Updated October 28, 2020)
Welcome to the news page for Hang Seng (HSI). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on HSI, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
HSI Moving Averages
The moving averages on HSI summarize its price action in an interesting way. The 20 and 100 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 50 and 200 day averages that imply a bearish trend. Moreover, today we saw the 50 moving average turn bearish.
The chart below illustrates.
The View From the Weekly Timeframe
At the time of this writing, HSI’s price is down $-131.59 (-0.53%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as HSI has now gone up 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows HSI’s price action over the past year.
Hang Seng (HSI) Tops All equity indices, Heads Up For the 6th Straight Day; in an Uptrend Over Past 14 Days
This is a reversal of the price action on the previous hour, in which price moved down.
Hang Seng (HSI) Moves Up For the 6th Straight Day; in an Uptrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Hang Seng (HSI) Heads Up For the 5th Day In A Row, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days
Out of the 14 instruments in the equity indices asset class, hang seng ended up ranking 5th for the day in terms of price change relative to yesterday.
Hang Seng (HSI) Heads Up For the 4th Consecutive Day, Crosses 50 and 100 Day Moving Averages; in an Uptrend Over Past 14 Days
Relative to other instruments in the equity indices asset class, hang seng ranked 2nd since yesterday in terms of percentage price change.
Hang Seng (HSI) Heads Up For the 3rd Straight Day, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
This is the 3rd consecutive hour hsi has seen its price head up.
Hang Seng (HSI) Heads Up For the 2nd Consecutive Day, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average
Or to view things another way, note that out of the past 14 days hang seng’s price has gone up 9 them.
Hang Seng (HSI) Up 0.94%; in an Uptrend Over Past 14 Days
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Hang Seng (HSI) 2 Day Up Streak Ended, Breaks Below 50 and 100 Day Averages; Evening Star Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a evening star pattern showing up on the charts as well.
Hang Seng (HSI) Moves Up For the 2nd Day In A Row, in an Uptrend Over Past 14 Days; is Inching Close to 50 and 100 Day Averages
Out of the 14 instruments in the equity indices asset class, hang seng ended up ranking 6th for the day in terms of price change relative to the day prior.