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HK50: high rise

2023-01-10
602
Brief analysis of fundamentals:
Hong Kong’s Hang Seng Index closed up 396.7 points, or 1.89%, at 21388.34 points on January 9 (Monday). The index and the country index rose by 1.89% and 1.99% respectively, both of which set new highs in the stage. As the market vane, the heavyweight technology stocks collectively strengthened. Alibaba even rose by nearly 9% to stand at 110 Hong Kong dollars, Xiaomi rose by nearly 8%, Tencent rose by about 4%, and the net inflow of southbound funds was 1.321 billion Hong Kong dollars. 156.4 billion Hong Kong dollars.

HSI HK50 4-hour chart



Brief technical analysis:
Looking at the 4-hour chart: bulls against power fluctuate and rise at a high level, the short-term bullish trend is good, the market bulls continue to climb, the MACD indicator is in the bullish area and continues to move upward, and the RSI indicator is at a high level;
Long-short turning point: 21348
Suppression: 21715, 21953
Support: 21093, 20853
Trading strategy: Bullish above 21348, target 21715, 21953
Alternative strategy: bearish below 21348, target 21093, 20853

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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