Hong Kong’s Hang Seng Index May Drop

Advanced Market Timing Experts Workshop 2011, Master Market Timing with the Leading Technical Analyst

Advanced Market Timing Experts Workshop 2011, Master Market Timing with the Leading Technical Analyst

Hong Kong’s Hang Seng Index may drop to its March low after the benchmark gauge fell through a key support level, according to UOB-Kay Hian Holdings Ltd.

The gauge has fallen 2 percent this week through yesterday to 22,730.78, below the 200-day moving average of 23,013.73, according to data compiled by Bloomberg. The Index dropped as much as 0.9 percent today, heading for its second consecutive weekly decline.

Since the April peak, the gauge’s 14-day relative strength index, which measures how rapidly prices have risen or fallen, has stayed above the level of 30 that investors use as a “buy” signal.

In technical analysis, investors and analysts study charts of trading patterns and prices to forecast changes in a security commodity, currency or index.

Read More at: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/24/bloomberg1376-LLOHGG0D9L3501-0A7GICSQDPA2AC3BC31KSSUP78.DTL

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