Hang Seng (HSI) 2 Day Down Streak Snapped
Out of the 14 instruments in the equity indices asset class, hang seng ended up ranking 2nd for the day in terms of price change relative to yesterday.
Hang Seng
(Last Updated April 15, 2021)
Hello! This is the news page for Hang Seng. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
The Trend
A trend/countertrend situation exists on HSI, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 14 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
HSI Moving Averages
HSI’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, aside from a drop about 7 weeks prior. Moreover, it should also be noted that the 20 SMA just turned bullish today.
The chart below illustrates.
The View From the Weekly Timeframe
Currently, HSI’s price is up 202.03 (0.7%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on HSI. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. HSI’s weekly price action over the past 52 weeks can be seen via the chart below.
Hang Seng (HSI) Down 0.7%; in a Downtrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
Hang Seng (HSI) Down 0.7%; in a Downtrend Over Past 14 Days
It’s been a feast for bears operating on an hourly timeframe, as hang seng has now gone down 9 of the past 10 hours.
Hang Seng (HSI) Down 0.71%, Crosses 20 and 50 Day Moving Averages; in a Downtrend Over Past 14 Days
This move is a reversal from the hour prior, which saw price move up.
Hang Seng (HSI) 7 Day Down Streak Ended, Breaks Above 20 Day Average; Doji and Pin Bar Patterns Appearing on Chart
Out of the 14 instruments in the equity indices asset class, hang seng ended up ranking 4th for the day in terms of price change relative to the day prior.
Hang Seng (HSI) 7 Day Down Streak Broken, Breaks Above 20 Day Average; Doji and Pin Bar Patterns Appearing on Chart
Or to view things another way, note that out of the past 10 days hang seng’s price has gone down 7 them.
Hang Seng (HSI) Down 0.13%, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the equity indices asset class, hang seng ranked 6th since yesterday in terms of percentage price change.
Hang Seng (HSI) Down 0.13%, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the equity indices asset class, hang seng ranked 6th since yesterday in terms of percentage price change.
Hang Seng (HSI) Heads Down For the 5th Straight Day; is Inching Close to 20 and 50 Day Averages
Of note is that the 20 hour changed directions on hsi; it is now pointing up.
Hang Seng (HSI) Down 0.17%; Eyes 100 Day Average
With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration.