Market Sense

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CK Choy.

Market Sense 市场意识: Hang Seng Index Personal View using TA
Be decisive, Be patient, Don’t be greedy, Don't be stubborn

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The information contained in is provided to you for general information/circulation only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.

You should seek advice from a financial adviser regarding the suitability of the investment products mentioned, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to purchase the investment product. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.

Any views, opinions, references or other statements or facts provided in this are personal views. No liability is accepted for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on the information provided herein.

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Note:
All TA (Technical Analysis) view using charts are for illustration purpose only.
Unless otherwise specified, all charts' sources are from POEMS(Phillip Online Electronic Mart System)

Monday, 9 April 2018

Hang Seng Index Personal View using TA

After hitting the top at 33510 on 29 Jan 2018, Hang Seng Index, HSI reversed down and hit a low at 28570 on 10 Feb before rebounding to a lower high to around level 32000. From here it is consolidating down again and a downtrend channel was drawn on the short term daily chart, connecting the top 33510 and the lower high of 28750. As of current 9 Apr 2018 2pm HSI traded around 30200 level, where it is around the mid point of consolidating channel.

For short term movement, traders can consider sell into strength when it traded near to channel resistance around 31000 and above; and buy for a short term rebound near support level around 29000 level and below. (refer to short term daily chart)

Critical point to watch, using HSI long term monthly chart as reference, if support level 28605 break down convincingly, it may hint HSI uptrend run has ended and downtrend to begin. 

Short term news/situation to watch
1)Trade war, especially between US and China...(but my personal view is there will not be negative outcome afterall)
2)Tech counters to continue consolidating? The current bull market run from 1 Feb 2016 low to 2018 has been mainly driven by technology stocks or NASDAQ boom... if tech counters were to fall back for a correction phase, it will drive to a deep pull back or market correction usually about 20%.
Long term monthly chart (Source: HSI monthly chart) TA view for illustration purpose only

Short term daily chart (Source: HSI daily chart) TA view for illustration purpose only


Posted by ckchoy77 at 14:32
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