ZmjjkK wrote a post · May 13, 2024 18:08

Will Hang Seng Index & TECH Index soar or dip?

Some overseas investors believe that the $SPDR S&P 500 ETF (SPY.US)$ rose by 9.5%📈 during the same period, while the $Hang Seng Index (800000.HK)$, denominated in US dollars, reached 11%.📈

However, some individuals have remained consistent in their view, arguing that the $Hang Seng Index (800000.HK)$ are still consolidating below the resistance level of 18,600 points. They maintain a bearish stance, citing a lack of confidence and expecting the price to retrace to the support level of 17,835. Technical indicators are mixed, with the price holding above the long-term 55 EMA, but the MACD is currently trending down, indicating an increasing bearish momentum.😕

Alternatively, the past saw candles closing above the resistance level of 18,600 having the potential to further advance towards the resistance level of 19,100. But that was then.🤷‍♂️

Some others also indicate that the resistance is currently around 19,100, and there is a possibility of a breakout soon.

HK fell first and then rose, stabilizing above 19,000 points and closing near the daily high, hitting a new high in over nine months and rising for the third consecutive trading day, with the turnover of the main board reaching approximately 147.2 billion yuan.

The $Hang Seng Index (800000.HK)$ initially fell by nearly 140 points to a low of 18,827 points in the morning, but then reversed and closed at 19,115 points, up 151 points or 0.8%.🚀

The $Hang Seng Index (800000.HK)$ stabilized at 4,000 points and closed at 4,018 points, up 1.42%.🚀