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HK50: high open shock

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed up 54.29 points, or 0.27%, at 19,894.57 points on April 28 (Friday). The three major Hong Kong stock indexes maintained their gains throughout the day. The Hang Seng Technology Index once rose 2.5% in early trading, and closed up 1.02%. The Hang Seng Index and the State Index rose by 0.27% and 0.4% respectively, and the Hang Seng Index gained 20,000 points and then lost. At the end of April, the Hengke Index fell more than 9% on a monthly basis and performed poorly. Large-scale technology stocks were mixed. NetEase rose 2%, Baidu and Alibaba rose slightly. The net inflow of southbound funds was 2.022 billion Hong Kong dollars throughout the day, and the market turnover was 101.5 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: Opening higher and fluctuating, short-term consolidation, the market rebound may be blocked in the short term, but the bullish sentiment has emerged, the MACD index is hovering below the 0 axis, and the RSI index is below the 50 balance line for weak consolidation;

Resistance level: 19948 20063

Support level: 19642 19521

Trading strategy: Bullish above 19765, target 19948 20063
Alternative strategy: bearish below 19765, target 19642 19521

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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