stuck in the middle breakout or breakdown?

21 Okt

HHKG33

Hi ya everyone here's to a week filled with optimistic, progress and hapiness - may the market treat us well!

As you can see from previous post ; last week 1h chart that the MACD & KDJ movement that gave us some insights testing the support level. It has climbing up steadily. quite handsome!

It didnt breakdown to 19753 level and staying above 20240 level.

Last Friday HSI closed at 20804.11 (+725.01; +3.61%) ; however it still record a down 447.87 ; -2.11% for the week.

As mentioned, a healthy pullbackis just the market catching its breath before the next big climb!


This D chart showing the momentum has turn weak the MACD had a dead cross and the KDJ is at weak zone too.

For today, we are looking at 20700, if it holds above this level then it could break 20900 and next resistance at 21395.
May trade within the range of 20400 - 20600.
For this week, the key support level at 20400 (the 52MA).
Note : the last high was Jan'23 (closed at 22635); the recent high (closed at 23119) early this month Oct'24.


Happy trading everyone!

My take:- For today I'll watch and wait for a better entry point to avoid my previous mistake enter the party too early. No action is an action.
while waiting let's zenning with 📙🍵