Hang Seng Index has reversed off our first resistance at 27219.5 (horizontal swing high resistance, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 24437.6 (horizontal swing low support, 100% Fibonacci extension ). Stochastic (21,5,3) has reversed off resistance and we might see a...
If you have to own one name today right now, this is IT. Boring old cash rich China Mobile has been trading in this channel since 2009 and this is the 3x time 941 is testing the lower end of the range. There is 5% to pick up before it hits the 1st resistance and potentially +35% if it tests the top of the range. To sweeten the deal, if you hang on till the end...
So, i've added: Purple horizontal lines each $500 Yellow vertical lines - 9:00 am (UTC -8) NYC Blue vertical lines - 9:00 am (UTC +5) HK Fibonacci retracement build by $12k and $9k Blue fib speed resistance fan from beginning of current growth trend and height of current trend Red fib speed resistance fan from beginning of current growth trend and first height...
Wait for a confident break below the EMA and supporting trend line + support level. Keep an eye on the order books! Use numerous indicators in conjunction with one another along with a look at the volume. If we see a drastic shift in the buy vs. sell volume, it could be another sign of reversal!
After the big pump, .618 retracement. Long term target 8 U$S.
HK is in the energy sector. I am not real bullish on the sector, but some stocks have sold down. Mostly the drillers. HK appears to be in the middle of a bull flag. A bull flag should move higher to test the upper channel again ($1.17), as indicated bu the GOLD bars on the chart. The best outcome would have oil move stronger higher allowing the AB part to be...