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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

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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