Tradable Levels on Hang Seng Futures
follow the bread crumbs. I have some technical analysis in the link below for Tencent and many others
below you can see the monthly candles in the long-term time frame of the Hang Seng futures index. you can see the long-term trend is absolutely up as it should be for this great index. I've also highlighted some of the strong major support and resistance levels you can see on the chart below.
in the chart below you can see the weekly candles. also you can see an obvious downward trending price channel that hang sang has been held within for just about 2 years. you can also see how two weeks ago there was a rejection of the resistance of this downward trending price channel.
with a closer look on the daily candles as seen below you can see how the price of Hang Seng Futures is resting on top of a uptrending support level. there is a possibility that we could get a bounce from here. if we do not catch a bounce here then I have highlighted some other horizontal support levels that we may gain some traction if price dips below.
in the chart below you can see the 4-Hour candles. and you can also see how this downtrend is very overextended. all of the indicators are in very over so conditions. so from a short-term risk to reward perspective this would be potentially the good area to buy in. but always remember during a downtrend in the craters will stay in oversold territory for a while.
to paraphrase my ideas on the Hang Seng features index I am very long-term bullish. and the very short term I can see a little more whipsaw price action or volatility. Futures contracts dated further out are calling for increases in price in the near future so that is a slight bullish note. but then again we must always remember the old proverb in Wall Street, "a trend is your friend until it ends." and currently the trend is down as you can see by those weekly candles above. so technically speaking we should be looking for short opportunities in a downtrend. even though I am bullish on the very long term time frame.
$Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $SSE Composite Index (000001.SH)$ $CSI 300 Index (000300.SH)$ $Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$ $FTSE Singapore Straits Time Index (.STI.SG)$ $S&P/ASX 200 (.XJO.AU)$ $Alibaba (BABA.US)$ $BABA-W (09988.HK)$ $NIO Inc (NIO.US)$ $SPDR S&P 500 ETF (SPY.US)$
$Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $SSE Composite Index (000001.SH)$ $CSI 300 Index (000300.SH)$ $Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$ $FTSE Singapore Straits Time Index (.STI.SG)$ $S&P/ASX 200 (.XJO.AU)$ $Alibaba (BABA.US)$ $BABA-W (09988.HK)$ $NIO Inc (NIO.US)$ $SPDR S&P 500 ETF (SPY.US)$
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SpyderCall OP : @102640653
102640653 : Thanks. I still think movement on Alibaba will make a big difference. If Alibaba starts trending upward we. Can be bullish. On Friday intraday they tried very hard to hold up Alibaba but by end of day it sold off heavily to end at day low. In us adr on Friday it hit 97.68 n then bounce up . If it’s true I think something similar kind might happen in hongkong to test the bottom. Might try flat to lower open in hongkong n try bouncing during the day. Furthermore if China a50 futures r weak Hong Kong follows a lot of movement on it too . Need to monitor on Monday.
102640653 : Thanks
SpyderCall OP 102640653 : no problem at all. I'm glad to help. are there any more investments or potential plays you are looking at?
SpyderCall OP 102640653 : I did notice that on baba Friday as well as some of the other big Chinese equities. I actually picked up some $NIO Inc (NIO.US)$ on the dip around the $20 price point. I can see a tiny bit more downside potentially in neo and in baba. but that $20 price point is a strong psychological support level hopefully. but in the long run I believe in neo and I can see the price of its shares exceeding $20 easy in the long run
allen kidd : your analysis is way better than mine, nice job!
SpyderCall OP allen kidd : I appreciate it. I try. sometimes my eyes hurt cuz I'm staring at these charts all freaking day.
allen kidd SpyderCall OP : I do the same with my phone. I'll get my laptop out and use that and my phone soon. looking at the graphs would be easier on a laptop.
SpyderCall OP allen kidd : i have a couple monitors hooked up to my laptop. the more screen real estate the better for short term plays and day trades. you watch more trading opportunities at once. for the long term investor you dont need much really. just a phone to look at some daily candles once a day
allen kidd SpyderCall OP : check out GFAI. it's looking good
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