HSI
Added 2024-08-16 10:12:49 +0000 UTCA very common sight we are seeing right now is a bounce and potential reversal after testing and confirming support on the 0.618 Fib
We can see here that the HSI tested and then retested the 0.618 Fib 3 times
Each time making higher lows
$BABA reported yesterday and it disappointed me because of its FCF decline but arguably this was put down to their expansion plans and used to buyback shares....both of which I am ok with, especially with the enormous amount of cash $BABA has
Also, $BABA has lagged for 2024, a lot of this consolidation was likely baked into the share price now
HSI finished up nearly 2% today and comfortably above its 200 Day MA now
We want to see the 50 Day MA converted next to support at 17600, this will tell us that the trend has moved bullish
