Hello Traders, Hang Seng dropped this morning to 28463 and was not in conditions to build a bottom yet. The Future declined to 28422 and is showing weakness since. A first hint for a countertrend occurs by overcoming the 28664 and after the level of 28711. This could open the door for a „gap-rally“ and may it will closed if so to come. Extending the losses and...
Hello Traders, not often, but sometimes it happens, I have to face the fact, that I don`t now exactly which way an index, a stock or metals will go next. Sometimes, as it is for now. As of the last weeks, I have try to cover NIFTY50 on each possible timeframe, checking the patterns, the moves, the indicators, and, and, and....! From a very early point of time, I...
Hello Traders, only one way for Netdragon, the Hong Kong based chipmaker. UP!!! Since the start of 2019 the stock is rising in a clear uptrend and the next target is around the 19.08$, a peak high as of August 30,2018. Using indicators as CCI and Full Stoch, both show overbought conditions since the start of the advance. But for now the stock is not willing to...
Hello Traders, today I`d like to show you Hang Seng Future, because of the price development suring after session trading causing by US markets. Hang Seng (normal trading hours) closed the day with modestly losses @ 29113. The Future had the rest of the day to go...and he did. By opening the US markets a sharp and strong decline occurs at markets and HS declined...
Hello Traders, Hang Seng dropped at todays session to 29051.90 (according to tradingview.com). This range is within the span of an a-b-c pattern and was the 1.618 Fibonacci extension of wave a. At 29486 a wave (v) may endet or a larger correctiv pattern is to develop. On a daily basis, Hang Seng is no longer a „long-call“ and the push that started at January has...
Hello Traders, Hang Seng closed today @29466 and achieved the target area as of my last analyze. The advance look not complete to me, so another open level for a possible wave (v) high surrounds at 30196, were wave (v) equals wave (i), highlighted with the blue trendline! Note, that at this level a open gap from January 15-16,2019 remains at chart and this gap...
Hello Traders, today I`d like to show the weekly chart for NIFTY50! Within the past 4 weeks we have seen a strong upmove from 10585-11370.8 (intraday high/low) and the move look like a „five-up“ on a daily basis. The technical data as there is a/d-Ratio closed on Friday at a level of 1,78; the weekly close is much more positive and indicate an ongoing rise, my...
Hello Traders, Since the high @ 29214.8 Hang Seng is in a corrective phase, declining to 28201 and has since retrace more than of a 0.88 Fibonacci! The move to 28201 is either all of the correction, may within a wave (iv) or it is part of a longer lasting a-b-c pattern that will last more serveral days. If the first view is to favor, at 28201 had begun a fresh...
Hello Traders, Hang Seng Index reversed after making it`s low @ 28201 on March 11. At this way, it leaves an „Island-reversal-gap“ that indicate a change of trend, here short-term. So, there remain some variation short-term to interpret this move. I´d like to explain two of them. Declining from 29241.80 – 28201 was either an „a-b-c flat“ correction (keep in mind...
Hello Traders, Hang Seng declined ~ 500 points at Fridays session, opened with a massive gap down. After the break to the downside of the trendchannel, this level of price decline signals, that a correction has started and a wave 1 possibly has endet at 29214.80. The impication as of my last analyse is valid now. If HSD is likely to decline further on, the next...
Hello Traders, Netdragon has risen as of the last analyse to 18.32 HK$ and reversed at this level sharp. It creates on a daily basis a „bearish-engulfing" which is a reversal-pattern, that often occurs after a long (up)trend and can be signal the start of a correction. Note that this reversal pattern occurs at a resistance zone, marked with the rectangle at...
Helo Traders, NIFTY50 slosed the week @ 11089.05. The move from 10585.60 is a „three-up“ and the second leg of this advance equals the first leg. This proportion is a common behavior within a ZigZag-pattern. The p/c-Ratio (Expiry date March 14) is at 0.98 which is close to neutral. The TRIN (Arms-Index) SMA10 and the daily trin both are signaling a trend to...
Hello Traders, HS has made a new high and achieved to 29241.80 at Mondays session. After it a correction started and HS has broke the uprising trendchannel to the downside on a daily closing basis. This is a strong evidence that a top is in place (or close to do so)! On a shortterm basis we have two scenarios to play. The first is, that a top is in place and HS...
Hello Traders, not much new to add for N50! Since the high @ 10118.10, a possible wave „B“, the index has declined to 10585.65 and retraced to a .618 Fibonacci so far. The structure of the last days is not clear, shows overlapping waves, possible a series of „1-2“or a „w-x-y“ pattern within a wave 2 of a larger decline. As long as the series of lower highs is...
Hello Traders, Hang Seng has not made any net progress to jump to new highs, instead it is trading within a range between 29014 and 28680. The shortterm weakness of HS is so far a clear „three“ down and touched the uprising trendline (blue) of the trendchannel. As long as HS is trading above 28681 the focus is to the upside and it could be possible that price will...
Hello Traders, Hang Seng made a top (?) yesterday @ 29010 and achieved the lower range of the targetzone as of my last analyse. It formed a kind of „doji“ which to interpret by todays bear candle is likely an „evening-star“. A formation as it occurrs at trend reversal points. At 29010 HS also had resistance by two Fibonacci level as I wrote before. The .618 of the...
Hello Traders, Netdragon, a Hong Kong listed stock, has risen to a weekly high at HK$ 16.78 intraweek and closed the week at HK$16.52! The move since the low at HK$11.80 (closing basis) is a clear uptrend (higher highs, higher lows) and as long as the low @ 16.52 is valid the focus is to the upside. At chart you will observe the colored rectangle, which show you...
Hello Traders, NIFTY50 dropped to a low on Feb. 19 @10585.65 and reversed. The pattern since than is „three-up“ and it retraced .382 Fibonacci of the decline from 11118. This is the most common target within a wave „b“ of a „ZigZag“, (a corrective) pattern. If so N50 is at forefront of a decline that will at least terminte below the wave „a“ low at 10585.65!...