CSI 300: Resistance Focus 4140

Fundamental analysis:

On Thursday (April 20th), the three major indices collectively closed lower, with the Shanghai and Shenzhen 300 down 0.09%, 1569 stocks up and 3295 stocks down in the two markets. The trading volume of the two markets reached 1.14 trillion yuan, and the net purchase of 4.691 billion yuan in the northern market. Looking ahead to the future market, stocks are still in the structural long window, and 2023 is more of a process of bottoming up and moving up the market center. The Shanghai and Shenzhen 3000 will be achieved overnight, requiring a process of repeated and thorough fundraising.

Shanghai Shenzhen 300 Four Hour Map

Technical analysis:

Looking at the 4-hour chart, the Shanghai and Shenzhen 300 have further declined, with a clear short-term correction trend. The MACD volume can shrink above the zero axis, focusing on 4140 resistance. Looking at the correction below 4140, the target below is around 4060-4000.

Resistance level: 4140 4200

Support position: 4060 4000

Trading strategy: bearish below 4140, target 4060 4000

Alternative strategy: bullish above 4140, target 4200 4250