HSI
Added 2024-04-22 11:54:53 +0000 UTCUp 1.7% today after more policy changes from the Chinese Govt:
Reuters:
Hong Kong stocks jumped on Monday, as investors found comfort in China securities regulator's decision to promote the city's status as a global financial centre, although Chinese shares slipped.
China will facilitate Hong Kong listings by leading Chinese companies and expand the Stock Connect cross-border investment scheme, the China Securities Regulatory Commission (CSRC) said on Friday.
The investment link between mainland China and Hong Kong will be broadened to include real estate investment trusts (REITs) and yuan-denominated stocks listed in Hong Kong. In addition, the bar will be lowered for exchange-traded funds (ETFs) under Stock Connect.
On the chart we have a bounce on the 0.5 Fib and what appears to be the yellow trend line as I consider this line to be more conservative then my original one, we can see that this line was resistance line and has flipped to support and tested a number of times now.
Price action finished above the 50 Day MA today but the real confirmation of a reversal will be flipping the 200 Day MA to support at 17300
