Futu Holdings Rises 3.73% to $193.95 Amid Technical Resistance Battle

Futu Holdings (FUTU) rose 3.73% to close at $193.95 on September 3, 2025, extending its gains to 4.50% over two consecutive sessions amid volatile price action near yearly highs.
Candlestick Theory
The September 3 candle formed a robust bullish body closing near its high ($194), countering the bearish sentiment from the August 29-31 doji patterns. Critical resistance is established at the August 26 swing high of $194.72, while support rests at the recent swing low of $175.51 (September 2). The rejection of lower prices followed by consecutive green candles suggests accumulation, though indecision near the $194.72 resistance warrants caution for potential profit-taking.
Moving Average Theory
The 50-day MA (~$172) converges with the 100-day MA (~$162) above the ascending 200-day MA (~$130), confirming the primary uptrend. Current price trades substantially above all three averages, signaling sustained bullish momentum. The golden cross formation (50-day above 200-day) remains intact since Q1 2025, though stretched proximity to the short-term MA hints at potential near-term mean reversion if the $194.72 resistance holds.
MACD & KDJ Indicators
The MACD histogram has turned positive following a bullish crossover in late August, aligning with the price rebound. Concurrently, KDJ readings show K-line (82) and D-line (78) in overbought territory after recovering from oversold levels below 20 during the August selloff. This momentum confluence supports upside potential, though divergences emerged as KDJ overbought signals preceded minor pullbacks in July and August – warranting vigilance for fatigue.
Bollinger Bands
Volatility expanded sharply during the August 22-26 surge (upper band: $198) and subsequent contraction stabilized near $186. Price currently tests the upper band (~$194), typically signaling overbought conditions when combined with thin volume. A failure to close above the band may trigger reversion to the $186 midline, while consolidation above $190 could reset bands for another breakout attempt.
Volume-Price Relationship
The recent rally exhibits bearish divergence: September 3's 3.73% gain occurred on 171.1M shares – 10.7% lower volume than the preceding up day (191.7M shares on September 2). This contrasts with the August 26 distribution day (198.2M shares on a -2.46% close). Sustained upside requires expanding volume; persistent divergence elevates reversal risks near resistance.
Relative Strength Index (RSI)
The 14-day RSI (67) exited neutral territory but remains below overbought thresholds, signaling moderate momentum. Historically, RSI peaks above 75 (August 12, July 18) preceded 5-7% pullbacks. Current positioning allows room for continuation if $194.72 is breached, though repeated failure near 70 would indicate fading strength.
Fibonacci Retracement
Applying Fib levels to the August 26 high ($194.72) and September 2 low ($175.51) shows the rebound surpassing the 61.8% retracement ($187.40) and nearing the 100% extension at $194.72. This aligns with historical significance of $194-195 as a psychological barrier (tested three times since late August). Acceptance above $194.72 opens the 127.2% extension at $199.80, while rejection may target the 50% level ($185.10).
Confluence arises at $194.72 resistance where Fibonacci, Bollinger Bands, and prior price peaks converge, amplified by bearish volume divergence and overbought KDJ signals. Divergence appears in MACD’s bullish momentum conflicting with RSI’s neutral positioning. Given the technical tension, a decisive breakout or rejection at $194.72 should dictate near-term bias.