Looking at the Hong Kong HSI stock market trends last week , HSI was supported well last week near the previous low formed in Mar. Finally, it rebounded with steam and head higher.
Today, it also gapped up in the morning and cross the 20d MA.
Do you think that’s a good sign of having a bull run?
I will be careful to make that conclusion. No doubt, gapping up is a good positive sign. However, HSI did not have the steam to continue its up trend after the gap up. Instead, it closed with a Doji. Doji shows that the market is undeciding and do not know where to head to.
So, I will anticipate the market to continue its uptrend and likely it will swing into the sideway market as long as there is no more bad news coming from the US stock market.
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.
