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HK50: high climb

2022-11-30
1127
Brief analysis of fundamentals:
Hong Kong’s Hang Seng Index closed up 906.74 points, or 5.24%, at 18204.68 points on November 29 (Tuesday). It even rose 7.66%. Large-scale technology stocks rose across the board, Meituan rose by 11.5%, JD.com rose by nearly 11%, Alibaba rose by more than 9%, Baidu, NetEase, Kuaishou, and Tencent all rose. 166.7 billion Hong Kong dollars.

HSI HK50 4-hour chart



Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising rapidly, the short-term bullish trend is good, the previous high is close at hand, and the break is imminent, the MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is in a narrow range above the 50 balance line;
Long-short turning point: 18182
Repression: 18462, 18662
Support: 17969, 17750
Trading strategy: Bullish above 18182, target 18462, 18662
Alternative strategy: bearish below 18182, target 17969, 17750

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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