HK50: high volatility

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed up 139.21 points, or 0.75%, at 18,736.44 points on December 1 (Thursday). Hong Kong stocks opened higher and moved lower. In the intraday session, it rose by 6%, the Hang Seng Index rose by 0.75% to 19,000 points and lost again, and the State Index turned green in late trading. Some technology stocks turned lower, Meituan, JD.com, and NetEase closed down slightly, Baidu rose more than 5%, Alibaba, and Tencent maintained their gains; the net inflow of southbound funds was 4.476 billion Hong Kong dollars throughout the day, and the market turnover was 198.5 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: bulls drive higher and lower, market bears have signs of waiting for an opportunity to enter the market, but the upward trend remains, the MACD indicator is on the side of the 0 axis, and the RSI indicator is hovering at a high level in the bullish area;

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