HK50: high finishing

Hong Kong’s Hang Seng Index closed up 229.85 points, or 1.05%, at 22072.18 points on February 1 (Wednesday). The three major indexes of Hong Kong stocks continued to rise in the afternoon, and the market’s bullish sentiment was positive. The Hang Seng Technology Index rose 3.37% to lead the way. The main indexes rose, and the Hang Seng Index was relatively mild, closing up 1.05% and rising more than 200 points. The rise of large-scale technology stocks has helped the market to sell well. Three-child concept stocks continued to soar, Babytree Group doubled its intraday increase, and China Parenting Network rose by more than 39%. The net inflow of southbound funds was 665 million Hong Kong dollars, and the market turnover was 155.5 billion Hong Kong dollars.

HSI HK50 4-hour chart

 

The 4-hour chart: After the short-term high volatility and retracement, the upward trend of market bulls remains, and the bears get corresponding support after the retracement. The MACD indicator is in the bull area and is finishing after a slow retracement. The RSI indicator is hovering weakly on the side of the 50 balance line;

Long-short turning point: 21961

Suppression: 22398, 22721

Support: 21566, 21243

Trading strategy: Bullish above 21961, target 22398, 22721

Alternative strategy: bearish below 21961, target 21566, 21243