CSI 300: focus on 4005 support

Fundamental analysis.

Friday (May 5) A-share weakness throughout the day, the three major indices collectively closed down, CSI 300 fell 0.48%, Shanghai and Shenzhen rose 1,387 shares, down 3,435 shares, the two markets turnover of 1.07 billion, for the 21st consecutive trading day exceeded 1 trillion yuan. Looking ahead, it is expected that in May A shares are still in the second key do-good window this year, and will step into the performance-driven market stage, the current position of the market opportunities still outweigh the risks.

CSI 300 four-hour chart

Technical analysis.

The 4-hour chart shows that CSI 300 is running around 4005, MACD volume is starting to weaken below the zero axis, and the trend is entering a narrow consolidation, continue to focus on support around 4005, above the target look at 4080-4140.

Resistance:4080 4140

Support level:4005 3940

Trading strategy: 4005 above bullish, the target 4080 4140

Alternative strategy: 4005 below bearish, target 3950 3900