HK50: High level sorting

Basic analysis:

Hong Kong Hang Seng Index closed down 86.64 points, or 0.47%, at 18256.48 on November 16 (Wednesday); The three major Hong Kong stock indexes recovered in late trading. The Hang Seng Science and Technology Index was almost red, closing down 0.23% slightly. The Hang Seng Index and the National Index fell 0.47% and 0.7% respectively. The capital of Beishang returned in the late trading, and bought a net amount of 998 million yuan throughout the day, adding A-shares for 4 consecutive days; Among them, Shanghai Stock Connect net purchased 956 million yuan and Shenzhen Stock Connect net purchased 43 million yuan.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that after the bulls' driving force rose to a high level, the market remained bullish, and the short-term entangled high level hovered. The MACD index moved slowly up in the bulls' area, and the RSI index moved slowly in the bulls' area;

Empty turning point: 18235

Pressing: 18,586, 18,820

Support: 18008, 17759

Trading strategy: 18235 lower bearish, target 18008, 17759

Alternative strategy: 18,235 upper bullish, target 18,586, 18,820