Technical Pulse: Hong Kong Exchange & Clearing Ltd October 20, 2021 385

HKEX (HKEX: 388) symmetrical triangle/pennant has been ranging since the strong sell-off in March. Although the first target price has been met based on our report dated 21st April 2021. Further technical have indicate bullish upside:   

 

  1. The bullish candle has broken out of the falling wedge within the symmetrical triangle/pennant.
  2. The bullish candle has also close above the Tenkan-Sen.
  3. MACD has crossed, which shows a strong initial bullish upside probability.

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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