Hang Seng Outlook
Chinese equities greatly outperformed US markets last week. But the Hang Seng index has recently dipped below a very long term technical support level converting it to a resistance level. You can see this on the monthly candles on the chart below marked by the red lines.
When zoomed in to weekly candles you can see how the price melted down below shorter term price channels highlighted by the light and dark purple lines. This meltdown occured immediately after the index's price dropped below the very long term support.
Currently the price is retesting the very long term resistance level after making higher lows on the daily candles. Is this just a retest of resistance before a rejection and new lows? Or will the Hang Seng climb back above this very long term resistance and stay above it for new highs?
$Hang Seng TECH Index (800700.HK)$ $SSE Composite Index (000001.SH)$ $CSI 300 Index (000300.SH)$ $Alibaba (BABA.US)$ $BABA-W (09988.HK)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $PDD Holdings (PDD.US)$ $Baidu (BIDU.US)$ $BIDU-SW (09888.HK)$ $Bilibili (BILI.US)$ $BILIBILI-W (09626.HK)$ $NIO-SW (09866.HK)$ $NIO Inc (NIO.US)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
19KFollowers
2986Following
33KVisitors
Follow
102640653 : Best way to know is to see a few main stocks how r they performing
SpyderCall OP 102640653 : yes. the heavy weighted allocations in the index![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
SpyderCall OP : Very good point by the way. I just checked the hang seng's allocation percentages. It has greatly changed since the last time i checked. Its been a while since i looked. Good call out. I definitely needed to see this
SpyderCall OP :
solo invest 102640653 : Good point
102640653 SpyderCall OP : Best stock is baba, Tencent, byd, jd
102640653 solo invest : These r few successful stock
102640653 102640653 : Baba was in downtrend for so long, hangseng index follow closely with it. Last week saw baba broke up from resistance n hang Seng index shoot up too. Now it depends on 2 stocks the way I see . Alibaba, Tencent.
SpyderCall OP 102640653 : I like JD and BYD a lot. Huge names in china and definitely good companies to invest in long term. But those two have less weighting in the index. BABA is by far the heaviest allocation in the hang seng. Tencent and Meituan and BABA are my favorite of the heavy allocations in the index. The other abnormally heavy allocations in the Heng Seng are CCB, AIA, and HSBC.
102766980 SpyderCall OP : Hey spydercall , will you be able to do a in-depth analysis , be it fundamental analysis or technical analysis ? I am keen to look at your research and analysis .
View more comments...