What we think on HSI in this week:
It is very difficult to predict in this situation.
From our checklist:
1) Form:M shape reversal pattern E
2) Fib L.: Reach 1.618 level of 13979 - 11524 = 15622 [1.618 Strong resistance level]
3) Candlestick: Gap up 2 continuous like Hammer (+ candlestick)
4) Trendline: Reach the upper trendline
5) 4-9 MA: NOT Crossover
6) Stochastics: close 100 around D%90.57% K% 95.38 currently - OverBuy [Neg Div and 2 Top]
7) CCI: 145.4 down from 157.56 [over 100 is over buy zone]
8) MACD: Still in strong momentum(+) & NO crossover exist [ - sentiment OR Crossover]
9) BB: Close to upper band Not over yet
10) Volume:Decrease [High]
11) RSI: 70 up from 60.29 [over 70 strong overbuy level]
From the above criteria, it has not met 5 criteria yet for Sell Call or Long put.
The Reversal Alert Sign is ON.
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