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HK50: high retracement
2023-02-01
999
Brief analysis of fundamentals:
Hong Kong's Hang Seng Index closed down 227.4 points, or 1.03%, at 21842.33 points on January 31 (Tuesday). The Hang Seng Technology Index once fell to 2.4%, and finally fell 0.82%. The Hang Seng Index and the National Index fell 1.03 and 0.95% respectively. At the end of January, the three major indexes all rose by 10%. , most of the large technology stocks fell, Baidu fell more than 3%, JD.com, Tencent, Alibaba and other weights all fell.
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has turned sharply and retreated, and the market’s short-term sentiment has begun to emerge. There are signs of continued downward movement in the short term. The MACD indicator is in the long-term area to maintain consolidation and move down, and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 22044
Suppression: 22398, 22721
Support: 21566, 21243
Trading strategy: bearish below 22044, target 21566, 21243
Alternative strategy: call above 22044, target 22398, 22721
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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