HSI approaching support, potential bounce!HSI is approaching our first support at 29610.5 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 30272.6 (horizontal swing high resistance, 100% Fibonacci extension).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Hsi!
HSI approaching support, potential bounce!HSI is approaching our first support at 29610.5 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 30272.6 (horizontal swing high resistance, 100% Fibonacci extension).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching support, potential bounce!HSI is approaching our first support at 29610.5 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 30272.6 (horizontal swing high resistance, 100% Fibonacci extension).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30025.0 (horizontal pullback resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27903.0 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30025.0 (horizontal pullback resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27903.0 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Wynn Macau Ltd HK 1128 Casino Top Pick Testing RangeWynn Macau Ltd
HKG: 1128
Fundamentals:
Since 2018. Wynn Macau is one of the one casino in Macau to capture most of high-roller gambling activity, consistently leading Macau on the VIP drop. Galaxy and Wynn contributed to close to 45% to the VIP volume.
Why VIP Volume? Investors place heavier emphasis on main revenue driver, revenue numbers, which are mostly generated from VIP segment.
Macau long term growth
Wynn recent upgrade to BUY RATING at Jefferies is giving it a boost with PT 23.80 after Goldman Sachs upgrade the stock in early April
Technicals:
Just Friday, 12 Apr, 50 DMA rose above 200 DMA and 50 EMA crossed 100 EMA.
Golden cross shows no sign of reversing for now while a long flag formation is formed.
Resistance : 22.0
Support : 20.70
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30079.5 (horizontal pullback resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29570.6 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! Trend Analysis Harmonic Patterns Chart Patterns
HSI is approaching our first resistance at 30079.5 (horizontal pullback resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29570.6 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30079.5 (horizontal pullback resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29570.6 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Stochastic is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30025.0 (horizontal pullback resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27903.0 (38.2% Fibonacci retracement, 1008% Fibonacci extension, horizontal pullback support).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
HSI approaching resistance, potential drop! Trend Analysis Harmonic Patterns Chart Patterns
HSI is approaching our first resistance at 30054.3 (horizontal pullback resistance, 61.8% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29261.6 (50% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
HSI approaching resistance, potential drop!HSI is approaching our first resistance at 30013.9 (horizontal pullback resistance, 61.8% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 29261.6 (50% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 30013.9 (horizontal pullback resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 29261.6 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Potential Upside Target for HSI (April)HSI had a strong gap and breakout after the weekend.
The index is currently moving within the two sets of upward channels, we expect the trend to continue if it holds.
The Potential Upside Target for HSI would be 29700, 30000 and 30300.
We should see some kinds of retracement after reaching TP1 before advancing further.
The way 4 of the Hang Seng Index rally should ended at 28973In the last update back in Nov 2018, I have point out that the HSI is going to have a sharp rally and test at least 28000. the latest update is that the ultimate target or sweet point to short sell HSI is 28973. and we should look for at testing or 24000 and below. the stochastic now is in overbought, any sign of reversion in candlesticks pattern means the end of the rally.
HSI is possible to make a double top or new time high againHang Seng Index has rally back above 292000, the low of Previous Wave one low. according to the Elliott wave rule: W4 should not enter W1. it's happening right now. so we could consider the previous one is not a impulse leg for downside movement. if it's not a downside one, we should be looking for a wave 5 rally then. a wave 5 rally should be looking for test the 2017 previous high. 33484 or even a new high. of course we might also face a failing wave 5 which is just below 33484.
Last Friday we have a high volume day with 120b, with 1/4/2019 have a gap open above 29200, these are all bullish technical signal. Fundamentally, Bloomberg said that yuan-denominated government bonds and policy bank securities would be added to the US$54 trillion Bloomberg Barclays Global Aggregate Index from April and would be phased in over a 20-month period. When fully implemented, local currency Chinese bonds would be the fourth largest currency component in the index behind the US dollar, the euro and the Japanese yen, Bloomberg said.
also the China and US trade talk give a positive atmosphere, in Beijing talk, it's rumor that a official welcome dinner is replace by a working dinner. so both are working very hard on details of the deal. if the China America trade deal hit the market, it will fuel the rally too.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 29180.1 (horizontal overlap resistance, 61.8% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 28370.7 (78.6% Fibonacci retracement , 100% Fibonacci extension ).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
HSI approaching resistance, potential drop! HSI is approaching our first resistance at 29180.1 (horizontal overlap resistance, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 28370.7 (78.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Shanghai Composite / S&P 500 ratio & The USDHKD PegUnsurprisingly, similar to the currency, the outperformance of the Chinese stock market vs. the S&P 500 falters when the Chinese currency can't be sustained. Not quite as direct of a relationship, but this clearly affects emerging markets, which are highly indebted to the dollar.
This is visible if you go back further as well - the broad rolling emerging market problems all occurred starting when the USDHKD peg was hit in April 2018. April 18th, 2018 was a pivotal day in that regard. Also, it's no surprise that EM currency problems are starting to suddenly become problematic once again....