HSI
Added 2024-04-09 10:19:45 +0000 UTCHSI continues to test the green line for support, which is the historical support line which has been in place since 1998...so it is not a surprise to see this trend line being an important test.
We are seeing higher lows but have not seen a higher high since the 13th of March, so this is what we want to see next.....we can see that the 200 Day MA is also moving down from above too and the 50 Day MA is moving up from the bottom.
When two moving averages converge like this, with the price action in the middle, it means the price action must take a direction up or down when they meet, it will not stay moving sideways....we naturally want to see this move higher, especially above the 200 Day MA which will be a trend chance and bullish indication.
Earnings season can be the trigger for this.
Comments
Q1 earnings coming up for HSI too.. let's hope for the best :)
Dillon Lay
2024-04-09 15:05:16 +0000 UTC
