๐น๐๐ HSI Heating Up! Ready to Ride the Green Wave? ๐๐น๐ ๐บ๐ ฑ๐๐ ป๐ ป๐ ธ๐๐ ท๐บ
๐ ผ๐ ๐ ๐ พ๐๐ ด ๐ ธ๐ 5-10% ๐ ถ๐๐ ด๐ ด๐ ฝ๐น
Kia ora Tiger traders!
๐ Itโs time to tighten your seatbelts and grab your ๐ ถ๐๐ ด๐ ด๐ ฝ trade goggles, because the Hang Seng Index ($HSI) is gearing ๐บ up for one spicy week ahead!๐ถ๏ธ๐นWith a close at 23,099.78, weโre staring down the barrel of some serious bullish momentum! ๐๐น๐๐
๐ฏ Techies are on Fire!
The $HSI is like your favourite โโ๏ธโ๏ธโ๏ธ, extra strong this morning. With the MA10 & MA20 showing a bullish breakout, thereโs no time to hit ๐ค the snooze ๐! Even the MACD is strutting around like it owns the place, while the RSI is screaming overbought louder than a Tui during mating season๐ฆ. (Careful though, Tui calls donโt last foreverโฆand neither do overbought signals.)
๐จ๐ณ๐ญ๐ฐ๐ฒ๐ดThe Hong Kong and Macao Affairs Office of the State Council of China announced that it will continue to introduce more policies and measures aimed at benefiting Hong Kong and Macao.
๐จ๐ฐ Beijing hints at plans to boost ๐บ๐บ๐บ๐ญ๐ฐ Hong Kong economy a week before policy address.
scmp.com/news/hong-kong
Money Flow and rotation :
$Sensex down, $HSI up. Sell India ๐ฎ๐ณ buy China ๐จ๐ณ ~ Since 27Sep24.
๐ก Analysts are All In:
๐๐๐จ Chinese Stocks could soar another 20%, says Goldman Sachs ๐๐น๐จ
๐ Morgan Stanley: โExpect Q4 fireworks! Chinese economic stimulus is laying the groundwork for a sustained rally.โ ๐
๐ HSBC Global Research: โWatch for an 8% upside this week, with strong capital inflows pushing the market higher. Investors see Hong Kong as the front row seat for Chinaโs reopening.โ ๐๏ธ๐
๐ Bloomberg Intelligence: โTech is back, baby! With regulatory fears subsiding, this is prime time for tech-heavy stocks to lead the charge.โ
๐ช Green Zone (5% to 10%) Is the Sweet Spot ๐ข:
๐ Seasonality says it all! Historically, $HSI loves โค๏ธโค๏ธ this time of year. And the charts agree: the resistance levels at 23,106 and 23,257 are your targets this week. ๐ฆ๐ฆ๐ข๐ธ If capital keeps flowing in like itโs the Boxing Day or Black Friday sales, weโre in for some serious gains! ๐ธ๐ธ๐ธ๐ฐ
๐ Did You Know? ๐
When the HSI launched in 1969, it was dominated by British companies. Fast forward to today, and over 80% of the market cap comes from mainland ๐จ๐ณChinese giants, a reflection of Hong Kongโs evolution into a critical hub for Chinaโs top tech and financial firms! ๐ญ๐ฐ๐๐จ๐ณ
๐ค Hey Tiger Traders ~ Do you think this rally will keep defying gravity, or are we in for a rollercoaster ride before hitting the next peak?
@TigerGPTThe RSI is looking overcooked at above 70, but momentum is still roaring. Do you think HSI will break through resistance this week, or is a breather in store?
Happy trading ahead. Cheers, BC ๐
@TigerEvents @Tiger_comments @TigerPicks @TigerWire @TigerStars @TigerPM @Daily_Discussion
๐ฐIndex Prediction: Guess Where HSI Is Likely to Move This Week?
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Red tops $113.8-$115.29
$112.70 Orange band support
$119 Fibonnaci ๐ฏ ๐ฏ๐ฏ
$127.30 & $138.11 above
Hang Seng Index (HSI) Analysis
Business Overview
The Hang Seng Index (HSI), launched in 1969, has evolved into a critical hub for China's top tech and financial firms, reflecting Hong Kong's transformation into a leading market for mainland Chinese giants. Today, over 80% of the HSI's market capitalization comes from mainland Chinese companies. The HSI serves as a benchmark for the performance of the Hong Kong stock market and reflects the overall sentiment and trends of the region's economy.
Latest Earnings and Forecast
Unfortunately, specific earnings data for the Hang Seng Index (HSI) is not available as it represents an index rather than an individual company. However, it is important to note that the performance of the HSI is influenced by the earnings of the constituent companies within the index.
Recent Trends
As of the latest closing price on October 7, 2024, the HSI stands at 23,099.78. The HSI has shown bullish momentum recently, with the MA10 and MA20 indicators indicating a bullish breakout. The MACD indicator suggests positive market sentiment, while the RSI indicates the index may be overbought.
Analyst Viewpoints
According to S. Erg Intelligence, regulatory fears for technology companies have been subsiding, and this could be a prime time for tech-heavy stocks to lead the charge. However, it is essential to remain cautious and monitor market conditions carefully.
Bullish and Bearish News
One relevant news article reports that developers in Hong Kong are raising property prices following a 22.1% decline in residential building sales in September. Some developers, such as Sun Hung Kai Properties, CK Asset, and MTR Corp, have recently raised the prices of their projects by 6.5% to 10%. However, it is important to note that others are also offering discounts on their units.
Conclusion and Disclaimer
The HSI is currently showing bullish momentum, with positive indicators and favorable news regarding the Hong Kong property market. Considering the historical seasonality of the HSI and resistance levels at 23,106 and 23,257, there is a potential for further gains. However, investors should exercise caution and closely monitor the market as there are always inherent risks and fluctuations associated with investing.
Disclaimer: The above analysis and conclusions are for reference purposes only and should not be considered as investment advice. Investing in the stock market carries risks, and individuals should independently assess their investment decisions.
Wow higher and higher! Looking forward to tomorrow when china market opens