Hk50: bears continue to fall

Basic analysis:

Hong Kong's Hang Seng Index closed down 234.51 points, or 1.2%, at 19268.74 on Wednesday, August 24; Hong Kong stocks continued their downward trend, with the three major indexes falling sharply. Hang Seng technology index fell by 2.77%, narrowly guarding the 4000 point threshold, and large-scale technology stocks fell, leading the decline of the market. According to CCTV, the government of the Hong Kong Special Administrative Region said on August 24 that in view of the significant increase in the number of people entering Hong Kong through the Shenzhen Bay port through the "Laiyi" in recent days, in order to facilitate the entry of tourists, the quota of "Laiyi" entering Hong Kong through the Shenzhen Bay Port will be increased immediately, From 1000 to 1500 per day.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the market is shrouded in short sentiment. After falling below the previous high, the market continues to decline. There is no sign that the decline has stopped. The MACD indicator remains weak in the short area and moves downward, while the RSI indicator is in the short area;

Long and short turning point: 19303

Pressing position: 19503, 19730

Support position: 19022, 18835

Trading strategy: 19303 lower bearish, targets 19022 and 18835

Alternative strategy: 19303 bullish, target 19503, 19730