HK50: high climb

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed up 842.94 points, or 4.51%, at 19,518.29 points on December 5 (Monday). Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and other places actively optimized prevention and control measures. While the market was rising, the Hang Seng Technology Index approached the "limit" in late trading, and finally closed up 9.27% and returned to above 4200 points. The Hang Seng Index and the State Index rose by 4.51% and 5.3% respectively. Rebound to new highs. Large-scale technology stocks have risen astonishingly. Xiaomi, JD.com, and Baidu all rose by more than 11%, and Alibaba rose by more than 9%. Morgan Stanley raised the target point of the MSCI China Index by the end of 2023 from 59 points to 70 points. Target points increased from 18200 to 21200.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls is rising steadily, the short-term bullish trend is good, the bulls in the market have continued to pull up, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone.

Long-short turning point: 19361

Suppression: 19850, 20142

Support: 19053, 18779

Trading strategy: Bullish above 19361, target 19850, 20142

Alternative strategy: bearish below 19361, target 19053, 18779