HSI closes higher for the 4th day in a row


Hong Kong Hang Seng Index (HSI) Technical Analysis Report for Mar 13, 2018 [< 1 min read]
Highlights
HSI closes above its opening price after recovering from early selling pressure
HSI finds buyers at key support level
HSI closes higher for the 4th day in a row
HSI rises to highest close since February 5th
HSI closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 4th day in a row, HSI ended Tuesday at 31601.45 edging higher HK$7.12 (0.02%). Today's closing price of 31601.45 marks the highest close since February 5th. Trading up to HK$108.73 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 within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HSI
Volatility

Tuesday's trading range was HK$248.52 (0.79%), that's below last trading month's daily average range of HK$420.29. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

After trading as low as 31461.47 during the day, the market bounced off the key support level at 31472.47. The failure to close below the support could increase that levels importance as support going forward.

Trend

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

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bullish.

Market Conditions for Hong Kong Hang Seng Index
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Bearish Bounce off SMA 200 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

HSI pushes through key resistance level

Jun 20, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Hong Kong Hang Seng Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Equity Indices Top Movers

ETHUSD 536.1919.91 3.86%
NKY 22,555.43276.95 1.24%
HSI 29,696.17228.02 0.77%
NDX 7,280.7052.66 0.73%
BTCUSD 6,737.8430.35 0.45%
INDU 24,657.80-42.41 -0.17%
EURUSD 1.1592-0.0031 -0.27%
GOLD 1,277.0-3.6 -0.28%
USDJPY 110.05-0.50 -0.45%
GBPUSD 1.3176-0.0069 -0.52%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Equity Indices

NASDAQ100 10 day candlestick chart for NASDAQ1007,255.25 -18.25
-0.25%
DOW30 10 day candlestick chart for DOW3024,728.0 -280.0
-1.12%
SPX 10 day candlestick chart for SPX2,767.32 4.75
0.17%
INDU 10 day candlestick chart for INDU24,657.80 -42.41
-0.17%
NDX 10 day candlestick chart for NDX7,280.70 52.66
0.73%
IXIC 10 day candlestick chart for IXIC7,725.58 -21.45
-0.28%
RTY 10 day candlestick chart for RTY1,693.45 0.99
0.06%
VIX 10 day candlestick chart for VIX12.79 -0.56
-4.19%
FTSE 10 day candlestick chart for FTSE7,627.40 23.50
0.31%
DAX 10 day candlestick chart for DAX12,695.16 17.19
0.14%