The Hang Seng Index ended the week of Nov 15-19 at 25,049, down 278 points, and below its 50-day moving average at 25,172. The move above the 50-day moving average in the week of Nov 8-12 is likely to have been a whipsaw. The HSI’s quarterly momentum remains entrenched beneath its equilibrium line and looks like it plans to retreat. ADX is down to 11, a low reading indicating a lack of trend and pointing to a sideways range. Initial support is now at 24,763, the Oct low, failing which the twice tested 23,900 level provides support. Resistance appears at 26,100.
See also: STI could see 5,000 this year; but can DBS be at $70 by end-2026?
For more stories about where the money flows, click here for our Capital section
Scroll to continue
