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Hang Seng Index Technical Analysis - Hang Seng Index Trading: 2021-09-24

Hang Seng Index Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 24839.3

Buy Stop

Below 24020.3

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 1877
IndicatorValueSignal
RSI Buy
MACD Buy
Donchian Channel Buy
MA(200) Sell
Fractals Buy
Parabolic SAR Buy

Hang Seng Index Chart Analysis

Hang Seng Index Chart Analysis

Hang Seng Index Technical Analysis

The technical analysis of the HK50 price chart in the 4-hour timeframe shows the HK50,H4 is attempting to rebound to the 200-period moving average MA(200) which is falling still. The RSI indicator has formed a bullish divergence. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 24839.3. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian boundary at 24020.3. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (24020.3) without reaching the order (24839.3) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis of Indices - Hang Seng Index

HK50 price forecast is bullish despite recent mixed data. Will the HK50 price rebound ?

Hong Kong economic data of the last couple of weeks were mixed. Unemployment declined in August though less than forecast. And inflation declined more than expected. On the positive side the current account surplus rose in the second quarter when a decline was forecast. Thus, unemployment declined to 4.7% from 5% in July when a decline to 4.5% was expected. Inflation rate fell to 1.7% from 3.7% in July when a decline to 1.8% was expected. And current account surplus rose to H$68.5 billion from H$60.6 billion in Q1 when a decline to H$43 billion was forecast.

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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.