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HK50: High lift

2022-11-16
501
Basic analysis:


Hong Kong Hang Seng Index closed up 723.41 points, or 4.11%, at 18343.12 on November 15 (Tuesday); The Hong Kong stock market has witnessed a large-scale rise. The three major indexes have accelerated their rise in recent days, and the market is in a positive mood. The Hang Seng Science and Technology Index gained the most. It ended up 7.3% and recovered 3800 points. The Hang Seng Index rose 4.11% and exceeded 700 points. The National Index rose 4.84% and returned to the 6000 point mark. Large technology stocks led the market to strengthen, with Alibaba up 11%, Kwai and Tencent up more than 10%. The net inflow of funds from the south reached 3.56 billion Hong Kong dollars in the whole day, and the transaction volume in the market increased to 205 billion Hong Kong dollars.



Hang Seng Index HK50 4 Hour Chart




Technical analysis:


The 4-hour chart shows that the bulls' driving force is strong, short-term bullish sentiment is shrouded, and the market bulls are rising. MACD indicators are in the bulls' region and continue to move up, while RSI indicators are in the bulls' region and are in the high order;


Empty turning point: 18235


Pressing: 18586, 18820


Support: 18008, 17759


Trading strategy: 18235 upside bullish, target 18586, 18820


Alternative strategy: 18235 lower bearish, target 18008, 17759

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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