Hang Seng Tech Golden Pocket ResistancePotential 4 Bar Pattern setting up if unable to break 5000 today
Golden Pocket is Resistance as well as psych price Point.
Hang Seng tech index breaks down Trend.Short term price action has formed higher highs and higher lows resulting in a breakout of the longer term downward channel,
This has been driven by recent gains off the lows of large cap stocks like Alibaba and JD. Com amongst others, may be beneficiaries if the index continues North.
Recent data o
Hang Seng Tech Monthly TradeHI Guys, To me it looks like on monthly timeframe Hang Seng tech is bottomed up, as you can clearly see on this chart there is a clear bullish divergence on a montlhy timeframe as well as alot of index constituents are also showing bottoming formations
Script Stock Name Percentage
KYG0171911
HSTECH low risk opportunityI will be going long on HSTECH. It has moved from 61.8% retracement with positive RSI divergence and closing marginally above 20 DMA and major resistance above 3750 area. More confirmation if closing above falling trendline. Will add above that.
Target will be swing high around 4300 and then 4800.
China Tech. Don't miss thisHang Seng Tech
Price broke out from a long-term down-sloping channel (since 2021).
the recent price advance since Oct 2022 shows a 5-wave impulsive move.
Therefore I believe the bottom is over.
3 days to Chinese New Year 2023!!!First thing first, I would like to take this opportunity to many of my followers who stayed by me all these years. You have given me the encouragement to continue writing my point of view over the last 5 years. Wow!!!
Looking back, it has been a roller coaster learning curve for me as well. For th
Bottom fishing HSTECHIt is tough to determine the bottom for this ETF as it lacks historical trend to back up. Using the heaviest weightage component of this ETF to benchmark , Tencent appears to have reach a double bottom.
Of course, we won't know how long this bottoming process will last, weeks, months or years.....
Hang Seng Tech Index: Rectangle May Hint at Trend ResumptionThe Hang Seng Tech Index appears to be carving out a Rectangle chart pattern on the 4-hour setting.
The ceiling seems to be at 4883 with the floor at 4300.
Breaking above could open the door to extending the mid-March bounce, but that would place the focus on a long-term falling trendline from Feb
Hang Seng Tech Index has likely formed a "Double Bottom" Hang Seng Tech Index has likely formed a "Double Bottom" chart pattern, which is perceived as a trend-reversing indicator
The index has been consolidating for months, waiting for catalyst for a rebound
Yesterday, China's state funds shored up stock prices via open market interventions, buoying hopes
$HSTECH Bearish Engulfing day followed by Island ReversalHSI Tech reversal
$BABA showed weakness last week and again led to the complex reversal.
It seems the counter-trend rally may have come to an end.
$HSI also has a smaller degree Island Reversal as well. It should lead to some volatility here on.
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Summarizing what the indicators are suggesting.
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Neutral
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Moving Averages
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Moving Averages
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Displays a symbol's price movements over previous years to identify recurring trends.
