Latest news with #HSIF
BusinessToday
6 days ago
- Business
- BusinessToday
Hang Seng Index Futures Eyes 26,000 As Bulls Take The Reins
RHB Investment Bank Bhd (RHB Research) has reiterated its long position on the Hang Seng Index Futures (HSIF) as the index continues to chart an upward path, closing 150 points higher at 25,134 during Tuesday's trading. The index began the session at 24,986 and briefly touched a low of 24,916 before surging to a high of 25,168, ending near the peak with a strong bullish candlestick. This pattern further reinforces the ongoing uptrend. In the evening session, HSIF added another 187 points, last seen at 25,321. RHB Research noted that the bullish momentum remains intact, supported by the Relative Strength Index (RSI) staying above the 50% level and the upward slope of both the 20-day and 50-day simple moving averages (SMA). With these technical indicators aligned positively, the index is expected to head towards the 26,000 resistance level in the near term. The firm has advised traders to maintain their long positions, first initiated at 21,416 on 14 April, with a stop-loss set at 23,000 to manage downside risk. Immediate support is identified at 23,800, while resistance levels are seen at 26,000 and subsequently at 27,000 if the bullish trend continues. Related
BusinessToday
15-07-2025
- Business
- BusinessToday
Hang Seng Index Futures Maintain Bullish Momentum, Targets 26,000 Resistance
RHB Investment Bank Bhd (RHB Research) is maintaining its long position on the Hang Seng Index Futures (HSIF), as the index continues its upward trajectory with growing bullish momentum. The HSIF closed 25 points higher at 24,185 points on Monday, after rebounding from an intraday low of 24,049 points to test the day's high of 24,270 points. During the evening session, the futures extended gains by another 79 points, last traded at 24,264 points. RHB Research noted that the Relative Strength Index (RSI) is trending upwards, reinforcing signs of strengthening bullish momentum. The index remains firmly above its rising 20-day simple moving average (SMA), a key indicator that the underlying trend remains intact. 'If the momentum persists, the HSIF may attempt to break the immediate resistance at 24,500 points. A successful breakout could lift the index further towards the next key resistance at 26,000 points,' the research house said. Traders holding long positions from 21,416 points (14 April close) are advised to continue doing so. The stop-loss remains at 23,000 points, which also serves as immediate support, followed by a lower threshold at 22,000 points. Related
BusinessToday
16-05-2025
- Business
- BusinessToday
Hang Seng Index Futures Rally Cools, But Bulls Still In Charge
RHB Investment Bank Bhd (RHB Research) is maintaining a positive trading bias on the Hang Seng Index Futures (HSIF) despite a pullback, urging traders to stay on long positions. The index slipped 134 points to close at 23,383 pts on Thursday, after reaching an intraday high of 23,651 pts. The evening session saw further losses, with the index falling another 148 points to last trade at 23,235 pts. RHB Research reported that the bearish candlestick with a long upper shadow indicates profit-taking is emerging, signalling waning buying pressure following a strong rally. However, the index remains above its 20- and 50-day simple moving averages (SMA), suggesting the broader trend is still intact. 'The pause in upside momentum may lead to a consolidation phase,' RHB Research noted. 'But as long as the HSIF stays above the 22,000-pt support, bulls will retain the technical advantage.' Traders are advised to maintain long positions from the 21,416-pt level (April 14 close), with a stop-loss at 22,000 pts. Immediate resistance levels are set at 24,500 pts and 26,000 pts, while support sits at 22,000 pts, followed by 21,000 pts. Related
BusinessToday
14-05-2025
- Business
- BusinessToday
Long Position Maintained On Hang Seng Index Futures Despite Pullback
RHB Investment Bank Bhd (RHB Research) is maintaining its long position on the Hang Seng Index Futures (HSIF), despite the index snapping a four-day winning streak with a 373-point retracement to close at 23,027 points yesterday. The index opened higher at 23,419 points, hitting an intraday high of 23,505 points, before succumbing to profit-taking pressure and dipping to a low of 22,986 points. A fresh bearish candlestick formed at the close, but during the evening session, the HSIF pared some losses and last traded at 23,288 points. Despite the pullback, RHB Research noted that the Relative Strength Index (RSI) remains above the 50% mark, indicating continued bullish momentum. The 20-day and 50-day simple moving averages (SMA) are still sloping upwards, supporting the medium-term uptrend. 'As long as the index holds above the 22,000-pt support level, the retracement is viewed as a healthy consolidation within an ongoing uptrend,' RHB Research reported, which has maintained a positive trading bias. The long position, initiated at 21,416 points on 14 April, is being held with a stop-loss set at 22,000 points. Immediate resistance is at 24,500 points, with a higher resistance level seen at 26,000 points. Key support levels remain at 22,000 points and 21,000 points. Related
BusinessToday
13-05-2025
- Business
- BusinessToday
Hang Seng Index Futures Poised To Test 24,500 Following Strong Bullish Momentum
RHB Investment Bank Bhd (RHB Research) is maintaining its long position on the Hang Seng Index Futures (HSIF) as the index extended its bullish momentum on Monday, closing firmly above the 23,000-pt mark. The HSIF surged 613 points to end the day at 23,400 points, after opening at 22,790 points and briefly dipping to a session low of 22,716 points. It then staged a sharp rebound to hit an intraday high of 23,628 points. The strong finish near the day's peak indicates persistent buying interest, reinforcing the index's short-term uptrend. During the evening session, the HSIF added another 3 points to last trade at 23,403 points. RHB Research highlighted that the Relative Strength Index (RSI) remains elevated above the 50% threshold, reflecting continued bullish momentum. Both the 20-day and 50-day simple moving average (SMA) lines are trending upwards, further supporting the positive outlook. 'With a decisive breakout above the 23,000-pt resistance level now in place, the path appears open for the index to challenge the 24,500-pt resistance level in the coming sessions,' RHB Research reported. RHB Research maintains its trading bias as positive and advises traders to hold on to the long position initiated at 21,416 points (based on the April 14 close). To manage downside risk, the stop-loss has been revised higher from 21,500 points to 22,000 points. The immediate support level is now placed at 22,000 points, with a lower support marked at 21,000 points. On the upside, resistance is seen at 24,500 points, with a secondary resistance target at 26,000 points. Related
