In the last 3 days, HANG SENG INDEX has lost a total of 4.43% of its value. More of the same today: HANG SENG INDEX is down to 19,926, after ending yesterday at 20,051. Overall, a 0.63% loss or 125.51 points today.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at 19,728, a low enough level to, generally, suggest that HANG SENG INDEX is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for HANG SENG INDEX.
In the meantime, negative performances are also seen in other markets, Dow Jones decreases 1.13% to trade around 32,428. S&P 500 draws back 1.3% to trade around 3,940.
HANG SENG INDEX has fallen back around 11.63% over the past a month, from a notable high of 22,700.