$HSI(HSI)$ $TRACKER FUND OF HONG KONG(02800)$
Hang Seng Index (HSI) daily chart
Daily RSI closed to oversold, but oversold can remained lasting
Reference back 22/9/22 when RSI reached similar value around 30, and forward till early-Nov 2022. HSI remained "meltdown" while RSI mostly stayed below 40
Only when RSI finally broke above trend resist, we finally see a Bottom.
We could probably see slight rebound now and then, but the true bottom might have to wait for a break above the latest trend resist as shown
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Comments
Isn’t it hard for the Hong Kong market now?
We are in the range of about 10% from the 1997 level and the year now is 2023.
26 years and the HSI has not moved up. Either China will have the biggest bullrun or this is the end of China.
I remain bullish.
It's normal to feel nervous when the market is down, but let's not forget that it's just a matter of time before things pick up. Hang in there! 💪