HK50: Bears fall

Hong Kong’s Hang Seng Index closed down 115.79 points, or 0.58%, at 19959.94 points on April 24 (Monday). Hong Kong stocks are now in a V-shaped trend in the afternoon. In the end, it fell 0.22%. The Hang Seng Index and the State Index fell 0.58% and 0.46% respectively. The Hang Seng Index fell 115 points and fell below the 20,000 point mark. Most of the large technology stocks fell. Tencent, Alibaba, and Xiaomi all fell by more than 1%. The new crown mutant hit, and the anti-epidemic concept stocks performed well. Clover Bio led the way with an increase of more than 11%. The turnover is less than 100 billion Hong Kong dollars.

HSI HK50 4-hour chart

Looking at the 4-hour chart: the high-level short-term momentum maintains a shock and decline, and the short-term decline may continue. The overall market is in a continuous downward movement of the short-term momentum. The MACD indicator is hovering around the 0 axis, and the RSI indicator is below the 50 balance line.

Resistance level: 20145 20302

Support level: 19770 19640

Trading strategy: bearish below 19996, target 19770 19640

Alternative strategy: call above 19996, target 20145 20302