Hang Seng Technical Analysis | Hang Seng Trading: 2021-11-26 | IFCM India
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Hang Seng Technical Analysis - Hang Seng Trading: 2021-11-26

Hang Seng Index Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Below 24415.9

Sell Stop

Above 25734.3

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2452
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Sell
Fractals Neutral
Parabolic SAR Sell

Hang Seng Index Chart Analysis

Hang Seng Index Chart Analysis

Hang Seng Index Technical Analysis

The technical analysis of the HK50 price chart in daily timeframe shows HK50: Daily is retracing after failed attempt to breach the resistance line below the 200-day moving average MA(200). We believe the bearish momentum will continue after the price breaches below the lower Donchian boundary at 24415.9. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the upper Donchian boundary at 25734.3. After placing the pending order the stop loss is to be moved every day to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (25734.3) without reaching the order (24415.9) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis of Indices - Hang Seng Index

Hong Kong private sector activity expansion slowed in October. Will the HK50 price rebound continue?

Recent Hong Kong economic data in the last couple of weeks were mixed. Trade deficit narrowed in October while retail sales growth slowed in September, and Hong Kong private sector activity expansion slowed in October. Thus, trade deficit declined to H$30.5 billion from H$42.4 billion in September. But retail sales grew 4.7% over year in September after 10% increase in August. And Markit reported Hong Kong PMI declined to 50.8 in October from 51.7 a month earlier. Readings above 50 indicate sector activity expansion. Both demand and output rose for the ninth straight month, but rates of growth softened from September. Meantime, foreign demand fell, including new business from China. Slowing business activity is bearish for HK50.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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