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CSI 300:Return to downtrend

2023-05-23
803
Fundamental Analysis.

Tuesday (May 23) three major indices ended further lower, CSI 300 index fell 1.52%, the two cities 1138 shares rose, 3725 shares fell, turnover of 765.8 billion yuan, the net sale of northbound funds 7.976 billion yuan. Looking ahead, at present, the A-share incremental funds are still lacking, market liquidity is in tight balance, the stock capital game under the A-share style rotation will continue, in the market grinding stage to grasp the low suction opportunities, waiting for the market to break out upwards.

CSI 300 four-hour chart



Technical analysis.

4 hours chart, CSI 300 small rebound 3960 again blocked, MACD volume under the zero axis re-discharge, resistance level concern 3960, the level below the bearish 3850-3800.

Resistance level:3960 4000

Support level:3850 3800

Trading strategy:3960 above bullish, target 4000 4050
Alternative strategy: 3960 below bearish, the target 3850 3800

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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