Hang Seng Index Technical Analysis | Hang Seng Index Trading: 2022-11-07 | IFCM Turkey
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Hang Seng Index Technical Analysis - Hang Seng Index Trading: 2022-11-07

Hang Seng Index Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 16600

Buy Stop

Below 14400

Stop Loss

Mary Wild
Mary Wild
Senior Analytical Expert
Articles2058
IndicatorSignal
RSI Buy
MACD Sell
MA(200) Neutral
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Neutral

Hang Seng Index Chart Analysis

Hang Seng Index Chart Analysis

Hang Seng Index Technical Analysis

On the daily time frame, HK50: D1 came out of the downtrend and out of the inverted Head and Shoulders pattern. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if HK50: D1 rises above the latest high: 16600. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the last down fractal and the low since April 2009: 14400. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (14400) without activating the order (16600), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Indices - Hang Seng Index

Chinese stocks have risen in price amid rumors about the easing of anti-coronavirus policies in the country. Will HK50 quotes continue to rise?

The PRC authorities may ease measures to prevent coronavirus (zero-COVID policy). This can support economic growth. An additional positive was the rumors that the US authorities may ease some trade restrictions on Chinese goods after the November 8 US Senate elections. Weekly growth of the Hang Seng stock index exceeded 9% and was the highest in the last 11 years. On November 7, China Trade Balance for October will be released, which may affect HK50 quotes. Further, on November 9, data on inflation will be published and on November 10 - changes in lending volumes (New Yuan Loans).

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Note:
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.

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