HK50: high rise

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