Hang Seng China Enterprises Index corrects -19.7%

• tradingpoints
• February 5th, 2010

The Hang Seng China Enterprises Index (HSCEI) are the larger mainland Chinese companies traded on the Hang Seng Exchange. These shares are the investable “B” shares available to non-Chinese nationals. (rather than the “A” shares on the Shanghai SSEC Exchange.)

Currently the HSCEI is bearish on the short term charts are bearish below 11,762. The daily and weekly charts are bearish below 12,335.

The index closed the week on its lows in Friday’s trading session, well below the 200 Day moving average and is firmly in bearish mode. However, if this is a normal corrective move lower from the overall bear market lows from the Nov 2008 low, then an “ideal” price and time low target would be between 9,400 – 10,100 within the 17 April – 17 July time frame.

You can find the Support & Resistance levels on the HSCEI and its component stocks daily at  tradingpoints.net  here

The following is a multi time-frame look:

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