HK50: high climb

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed up 392.55 points, or 2.16%, at 18597.23 points on November 30 (Wednesday). Temporary controls were lifted in multiple districts in Guangzhou, and Hong Kong stocks rose rapidly in the afternoon. Large, the Hang Seng Index rose 2.16% and rose nearly 400 points, the State Index rose 2.21%, and the Hang Seng Technology Index rose 2.77% to recover the 3800 mark during the session. Most of the large-scale technology stocks rose. Meituan rose by more than 5%, Baidu, JD.com, Xiaomi, and Kuaishou rose by more than 3%.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues to rise at a high level, short-term bullish sentiment emerges, the market bulls continue to rise, the MACD indicator is on the upper side of the 0 axis and moves up weakly, and the RSI indicator is weaker on the upper side of the 50 balance line;

Long-short turning point: 18493

Repression: 18860, 19068

Support: 18225, 17969

Trading strategy: Bullish above 18493, target 18860, 19068

Alternative strategy: bearish below 18493, target 18225, 17969