CSI 300: Support moved up 4005

Fundamental analysis.

Thursday (May 4) after the first trading day of May Day A shares closed, the three major indices performance divergence, CSI 300 closed up 0.81%, Shanghai and Shenzhen rose 2895 shares, down 1914 shares. Shanghai and Shenzhen market turnover of about 1,170 billion yuan throughout the day, for the 20th consecutive trading day turnover broken trillion. Looking ahead, combined with the current A-share market overall valuation level is not high still in the history of the low, A shares after the holiday two trading days, although the impact of the holiday period by the event factors may be volatile, but the current position of the market opportunities are still greater than the risk.

CSI 300 four-hour chart

Technical analysis.

4-hour chart, CSI 300 running above 4005, MACD volume began to narrow under the zero axis, bottoming out obviously, focus on support near 4005, the upper target to see 4080-4140.

Resistance level:4080 4140

Support level:4005 3940

Trading strategy: 4005 above bullish, the target 4080 4140

Alternative strategy: 4005 bearish below, the target 3950 3900

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