Long term view on the Hang Seng Index.

28 Şub 2022

Monthly timeframe seems to be forming a symmetrical triangle with PA resting just above the 200 EMA. Relative strength index in a make or break position where we will bounce from over a decades support, or breakdown and visit oversold conditions. Fisher is at the lows and looking to start pointing up. We are also looking at a potential double bottom with the covid lows.

28 Şub 2022

Not

From a fundamental aspect the index has been one of the worst performing globally over the past year (17.5% down) and has become completely detached. 9.3 P/E ratio compared to 18 ish for the S&P 500. Also is below 5 year average which is attractive looking at things on a longer time frame.

28 Şub 2022

Not

Zoomed into the daily we see a well established descending channel. We are watching for a potential triple bottom with a nice hammer candle. RSI approaching oversold conditions but not quite there yet. Bullish shark formed