Hang Seng retested May lows at 22110/064 on Friday. Although we are oversold in the short term the outlook remains weak so there is a risk of a break lower to test support from the 200 day moving average at 21962/938. Watch for a bounce from here but a break lower could then target 21762.
Immediate resistance at 22330/380 should see us struggle but above here look for 22580/620 & a high for the day likely here with the daily chart still looking negative.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in