The 14 Day Moving Average deteriorates from 60 to 40. With its deteriorating situation in its loan. The ticker is far from enjoying premium from peers. HSBC will outperform Hang Seng Bank. At the moment no need to accumulate. Just wait for better entry point.
Hang Seng Bank (11 - HK) has completed impulse sequence of C wave in ABC sequence, which started from last major top in daily. As expected it starts new up cycle which is confirmed by price movement and tremendously high volume. It also crossed the wave 4 triangle, which is another confirmation of temporary trend change. But wait for clear 5 wave and its pull...
Hang Seng Bank (0011 - HK) is in 3rd wave of 5th wave major down with huge volume, which is driving stock to furhter down to new low towards target as shown in chart.
Hang Seng Bank - HKEX looks progressing for wave 5 down. It is under-performing HK50 index. Sell in 2nd wave corrective up with stops above 140.50 for target below 125 level as 5th down.
Idea, ABC Wave down, See chart
use warrant 13089, today anything under 0.100 should be good to enter.
target, first 193, then 186, anything in between would be good.
