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HK50: high retracement
2022-12-05
1074
Brief analysis of fundamentals:
Hong Kong's Hang Seng Index closed down 61.09 points, or 0.33%, at 18675.35 points on December 2 (Friday). The index and the country index fell 0.33% and 0.25% respectively. Most of the large technology stocks strengthened in the afternoon, with Kuaishou up 4%, Meituan up 3%, Alibaba up over 2%, and Tencent up 0.5%. The net inflow of southbound funds was 1.158 billion Hong Kong dollars throughout the day, and the market turnover was 142.7 billion Hong Kong dollars.
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: high short-term shocks and retracements, but the downward momentum has weakened, and the upward trend remains. The MACD indicator is finishing on the upper side of the 0 axis, and the RSI indicator is hovering weakly on the upper side of the 50 balance line;
Long and short turning point: 18630
Repression: 19068, 19329
Support: 18349, 18052
Trading strategy: Bullish above 18630, target 19068, 19329
Alternative strategy: bearish below 18630, target 18349, 18052
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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