Futu Holdings Jumps 6.02% To $178.66 As Technicals Signal Bullish Momentum

Candlestick Theory
Futu Holdings closed at $178.66 with a 6.02% gain on August 20, 2025, forming a robust bullish candlestick that reclaimed the $168–$172 support zone tested earlier in the week. This follows a hammer pattern on August 12 (closed at $165.18 after testing $161.64), signaling rejection of lower prices. Key resistance now emerges near $180–$182, aligning with the July 23 high of $174.36. Support holds firm at $168.50 (August 19 low), with a breach below potentially targeting $161.90.
Moving Average Theory
The 50-day MA ($140.26) remains above the 100-day ($128.17) and 200-day ($115.82), confirming a sustained long-term uptrend. Recent price action shows the stock trading above all three MAs, reflecting bullish momentum. Notably, the 50-day MA provided dynamic support during the mid-July pullback ($130–$140 zone), while the 200-day MA has not been tested since early 2025. Golden crosses persist across timeframes, reinforcing trend strength.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover emerging on August 20 as the histogram turns positive, suggesting renewed upward momentum. KDJ (9,3,3) exited oversold territory (K: 28 on August 11) and now trends upward at K:62/D:58/J:70. While not yet overbought, KDJ’s ascent aligns with MACD’s signal, indicating strengthening short-term bullish pressure. No material divergences are observed.
Bollinger Bands
Price closed near the upper band ($179.50) on August 20, indicating heightened bullish momentum. Band width expanded significantly during the August 13–20 rally (volatility surge from 5.2 to 8.1), confirming strong directional conviction. Earlier band contraction in late July (width 4.3) foreshadowed the current breakout. Sustained trading above the 20-day midline ($168.40) supports bullish bias.
Volume-Price Relationship
The August 20 rally occurred on 5.45M shares – the highest volume since July 18 – validating bullish conviction. Volume consistently expanded during up days (August 13: 4.55M shares, +6.84%; August 4: 3.91M shares, +6.54%), confirming accumulation. The July 31 selloff (-7.81% on 3.91M shares) saw volume divergence versus prior declines, suggesting capitulation before reversal.
Relative Strength Index (RSI)
The 14-day RSI (56.2) is neutral after rebounding from near-oversold (33.4 on August 11). Momentum is recovering but not overheated, leaving room for upside. During the July decline, RSI held above 30 despite price testing $130, showing relative resilience. As a lagging indicator, current levels don’t preclude further gains but warrant monitoring if approaching 70.
Fibonacci Retracement
Drawing from the swing low of $59.51 (September 18, 2024) to the all-time high of $178.79 (August 20, 2025):
- 23.6% retracement: $153.80 (aligns with August 11 low of $157.51)
- 38.2% retracement: $135.50 (tested during July 31 selloff to $141.67)
Current price trades above all retracement levels, with the 23.6% level now acting as support. Confluence exists at $161–$162 (August 12 low + 50-day MA).
Confluence & Divergence
Notable confluence at $168–$172 (candlestick support, 20-day Bollinger midline, and volume-backed reversal zone). Bullish consensus emerges from MACD/KDJ momentum alignment, volume validation of upside, and Golden Cross MA configuration. Minor divergence occurred in early August when RSI bottomed before price (August 7–11), correctly foreshadowing reversal. No bearish divergences currently evident. Probable upside toward $180–$185 near-term exists, though overextension risks rise if RSI enters overbought territory unfettered by volume.