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HK50: High opening high level vibration

2022-11-15
540
Basic analysis:

Hong Kong Hang Seng Index closed up 294.05 points, or 1.7%, at 17619.71 on November 14 (Monday); Hong Kong shares maintained a strong market all day, and the three major indexes fell back slightly in the afternoon, but eventually rose across the board, continuing the rebound last week. The Hang Seng Science and Technology Index rose by 4.5% at one time and closed 1.8% higher. Some large science and technology stocks rose and fell significantly, while pharmaceutical stocks continued to be active, Internet medical stocks led the rise, and Chinese medicine stocks increased in the afternoon. The net outflow of funds from Nanxia was HK $646 million throughout the day, and the trading volume in the big market increased to over HK $200 billion.


Hang Seng Index HK50 4 Hour Chart




Technical analysis:


The 4-hour chart shows that the bulls' momentum is strong, opening high and moving up and down, the short-term trend is high, the market is bullish, and there is a continuous upward trend in the short term. The MACD index is in the bulls' area, and the RSI index is in the upper side of the 50 equilibrium line;


Empty turning point: 17,456


Pressing: 17896, 18194


Support: 17135, 16881


Trading strategy: 17456 upside bullish, target 17896, 18194


Alternative strategy: 17456 bearish, target 17135, 16881

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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