It has been quite a while since I last post on Hong Kong Hang Seng Index. As we started to move into a new year 2009, let’s take a look at the latest stock market trends of Hong Kong Hang Seng Index now.
Up Trend on Hong Kong Hang Seng?
I spotted an upward trendline on Hang Seng since the low in Oct 08. It has formed the 3rd higher low at the end of Dec and it rebounded to hit the gap resistance again. This seem to be a signal of an uptrend market. However, that’s only half right, we saw higher low on Hang Seng but we are not seeing higher high yet. The high has been pretty flat within the gap resistance region.
So, I think we are not yet in an uptrend market yet. Instead, that seems to be some kind of ascending triangle formation. If Hang Seng manage to break the resistance and continue to trade higher, that might be a signal of beginning of a uptrend market.
Another resistance will be the 100d MA line. This is also a tough resistance to break. I ever heard some a stock market trainer saying that 75% of the market will be retreat at the resistance, only 25% chance the market can break up. If based on this theory, Hang Seng has traded at the resistance, a dark candle today shows that it has started to retrace downward.
Hong Kong Hang Seng 2009 Market Outlook
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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How does a person invest in HSI? I’ve seen a nice upward trend and would like to take advantage of it.
There are various way you can invest in HSI? Using future, warrant or CFD. Check out some brokers in your country for that!