HK50: finishing high

A brief analysis of the fundamentals:

Hong Kong's Hang Seng Index closed down 87.32 points, or 0.49%, to 17573.58 points on November 25 (Friday); the Hang Seng Index fell 2.33% this week; the three major Hong Kong stock indexes closed down collectively, with the Hang Seng Technology Index leading the decline, down 2.31 points. %, the HSI and HSCEI fell 0.49% and 0.35% respectively. The heavyweight technology stocks fell across the board. Experts expect that the RRR cut will be implemented in the short term. Mainland housing stocks and bank stocks rose significantly. The strongest cold wave hit this winter, coal stocks strengthened, and the Chinese prefix continued to be active. The net outflow of funds going south was 310 million Hong Kong dollars throughout the day, and the market turnover was 94.7 billion Hong Kong dollars.

HSI HK50 4-hour chart

A brief technical analysis:

From the 4-hour chart: the high level oscillated and retraced, and the weak consolidation began. The market as a whole was hovering at a high level, and the short-term or tangled high level consolidation. The MACD indicator was hovering around the 0 axis, and the RSI indicator was finishing around the 50 equilibrium line;

Long and short turning point: 17570

Repression: 17916, 18162

Support: 17324, 17078

Trading strategy: bullish above 17570, target 17916, 18162

Alternative strategy: bearish below 17570, target 17324, 17078