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CSI 300: focus on 3950 support

2023-05-16
500
Fundamental Analysis.

Tuesday (May 16) the three major indices moved lower in the afternoon, the Shanghai and Shenzhen 300 closed down 0.6% for the day, the two cities 1417 shares rose, 3430 shares fell, the day's turnover of 866.3 billion yuan, the net sale of northward capital 3.401 billion yuan. Looking ahead, the current A-share no significant decline in the basis of the A-share market, although the short-term adjustment, but in the economic recovery continues to provide strong support for the A-share upside background, the market popularity did not ebb, A-share short-term adjustment brings investment opportunities, but also brings the space for upward.

CSI 300 four-hour chart



Brief technical analysis.

4-hour chart, CSI 300 in 4000 points below the resistance, MACD volume began to shrink under the zero axis, the market has a bottoming counter-offensive opportunities, the current support focus on 3950 a line, the level above the bullish, the goal of 4050-4100 near.

Resistance: 4050 4100

Support level: 3950 3900

Trading strategy: 3950 above bullish, the goal 4050 4100
Alternative strategy: 3950 bearish below, the target 3900 3850

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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