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Hsi1

2318 HK: Top of the range for -17% downside2318 is a leveraged financial play on the Chinese economy which is not doing very well at the moment. The stock has been consolidation in a range between $68 to $80 from July 2018 to today. Stock is back at the top of the range which suggest there is an asymmetrical risk reward trade set-up. Technically speaking, it is worthwhile to remember 2318 completed a 3-Drive pattern from the 2009 trough in Jan 2018 while fundamentally speaking, it is a victim of the Chinese deleveraging, slowdown in the private sector and a bombed out stock market. Consolidation channels are generally continuation patterns which suggest 2 potential downside scenario:- #1 a retest of the channel lower boundary for -17% potential downside target #2 a breakdown from the channel which would imply a CD leg down to $45 to $48, -40%, which coincides with the 78.6% retracement level of the Feb'16 to Jan'18 up-move. So far, I am commenting mainly from the technical analysis angle with a smattering of fundamentals/equity story. Do let me know in the comments if you folks prefer more TA, fundamentals or a more nuanced view. Knowledge without timing = 0.
HKEX:2318Short
by WellTrainedMonkey
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 28234 (38.2% fibonacci retracemen, 100%, 61.8% fibonacci extension, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 26508 (50% fibonacci retracement). Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:HSIShort
by Tickmill
HSI1!: ABCD completion into 200-DMA HSI futures just completed a counter-trend rally ABCD to run smack into the 200-days moving average and I would consider it ripe for a correction. A simple analysis of the higher lows and higher highs would suggest this is a bullish retracement. Zooming out a bit, one would notice there isn't really any support at these levels till the 22,250 level which happens to be:- #1 the 78.6% retracement of the 2016 - 2018 uptrend #2 a massive uptrend line which links the AFC, DotCom, GFC and Taper Tantrum troughs. In both scenarios, we are still talking about an impending correction with the main question being how deep will it cut; <-10% or c.-20%
HKEX:HSI1!Short
by WellTrainedMonkey
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 27982 (38.2% fibonacci retracement, 100% fibonacci extension, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 26508 (50% fibonacci retracement, 61.8% fibonacci extension). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
TVC:HSIShort
by Tickmill
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 26587 (61.8% fibonacci extension, 76.4% fibonaccci retracement, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 25541 (61.8% fibonacci retracement, 61.8% fibonacci extensison). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
TVC:HSIShort
by Tickmill
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 26587 (61.8% fibonacci extension, 76.4% fibonaccci retracement, horizontal swing high resistance) and a strong drop might occur below this level pushing price down to our major support at 25541 (61.8% fibonacci retracement, 61.8% fibonacci extensison). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
TVC:HSIShort
by Tickmill
HSI approaching support, potential bounce! HSI is approaching our first support at 25147 (76.4% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 26176 (horizontal swing high resistance , 61.8% fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
TVC:HSILong
by Tickmill
HSI approaching support, potential bounce! HSI is approaching our first support at 25562 (78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing high resistance). Stochastic (89,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:HSILong
by Tickmill
1
HSI approaching support, potential bounce! HSI is approaching our first support at 25562 (78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci retracement, 61.8% fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
TVC:HSILong
by Tickmill
HSI approaching support, potential bounce!Hang Seng Index is approaching our first support at 25562 (horizontal swing low support, 61.8% Fibonacci extension, 78.6%, 61.8% fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 26619 (61.8% fibonacci extension, 61.8% fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3)is approaching support and we might see a corresponding bounce in price above this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:HSILong
by FlowState