HSI stopped out at its 50 Day MA again today after a strong bounce since the start of August, exactly when the US market started its weakness but has since recovered a lot of the losses.
HSI may need to retest its 200 Day MA now to show that this is a higher support and confirming that the 200 Day MA has been flipped to support.
Confirming the 200 Day MA as a support will be a bullish signal here for Chinese ADRs
Gareth Neary
2024-08-20 11:15:16 +0000 UTCA V
2024-08-20 11:12:55 +0000 UTC