HK50: high finishing

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed down 77.11 points, or 0.4%, at 19,441.18 points on December 6 (Tuesday); the three major indexes of Hong Kong stocks rose in early trading, and then continued to weaken in the afternoon and expanded their decline. The Hang Seng Technology Index closed down 1.82%, the Hang Seng Index and the State Index fell 0.4% and 0.8% respectively. The technology stocks that soared yesterday pulled back across the board. NetEase fell by more than 5%, Alibaba fell by 3%. The net inflow of southbound funds was 5.492 billion Hong Kong dollars throughout the day, and the market turnover was 165 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly, and the high level is arranged within a narrow range. The market is still bullish.

Long-short turning point: 19361

Repression: 19845, 20106

Support: 19053, 18779

Trading strategy: Bullish above 19361, target 19845, 20106

Alternative strategy: bearish below 19361, target 19053, 18779