HSI closes lower for the 4th day in a row

Hong Kong Hang Seng Index (HSI) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team


HSI closes lower for the 4th day in a row
HSI ends the day on a bearish note closing near the low of the day
HSI breaks below previous session low
HSI falls to lowest close since April 6th


Moving lower for the 4th day in a row, HSI ended Tuesday at 30062.75 losing HK$252.84 (-0.83%). Today's closing price of 30062.75 marks the lowest close since April 6th. Closing below Monday's low at 30190.75, HSI Index confirms its breakout through the previous session's low having traded HK$178.05 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (HSI as at Apr 17, 2018):

Daily technical analysis candlestick chart for Hong Kong Hang Seng Index (HSI) as at Apr 17, 2018

Tuesday's trading range was HK$465.09 (1.53%), that's slightly below last trading month's daily average range of HK$486.45. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Prices are trading close to the key resistance level at 30329.08.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

With prices trading close to this year's low at 29129.26, downside momentum might speed up should the index break out to new lows for the year. As prices are trading close to April's low at 29518.69, downside momentum could accelerate should the stock index mark new lows for the month.

With six out of the other six Major World Indices closing higher today, the ones that stand out on the positive side are NDX gaining 2.12% and DAX closing 1.57% higher. None of the markets ended the day in the red. Read more

Market Conditions for HSI as at Apr 17, 2018

Loading Market Conditions for HSI (Hong Kong Hang Seng Index)...
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HSI closes within prior day's range

Jan 17, 2019
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