HSI ends the day on a bullish note closing near the high of the day


Hong Kong Hang Seng Index (HSI) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team

Highlights

HSI closes above its opening price after recovering from early selling pressure
HSI closes higher for the 2nd day in a row
HSI ends the day on a bullish note closing near the high of the day
HSI pushes through previous session high
HSI rises to highest close since September 4th

Overview

Moving higher for the 2nd day in a row, HSI ended the week 1.16% higher at 27286.41 after gaining HK$271.92 (1.01%) today. Today's closing price of 27286.41 marks the highest close since September 4th. Trading up to HK$202.34 lower after the open, the stock index managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 27014.49, the index confirms its breakout through the prior session's high having traded HK$325.53 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (HSI as at Sep 14, 2018):

Daily technical analysis candlestick chart for Hong Kong Hang Seng Index (HSI) as at Sep 14, 2018

Friday's trading range was HK$312.57 (1.15%), that's slightly below last trading month's daily average range of HK$362.54. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Prices are trading close to the key resistance level at 27578.09.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

With five out of the other six Major World Indices closing higher today, the ones that stand out on the positive side are NKY gaining 1.2% and DAX closing 0.57% higher. On the flipside the worst performer has been NDX closing -0.21% lower. Read more


Market Conditions for HSI as at Sep 14, 2018

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