HK50: high volatility

Hong Kong's Hang Seng Index closed up 8.06 points, or 0.04%, at 21,746.72 points on January 16 (Monday). The Hang Seng Index rose slightly by 0.04% in late trading, while the State Index still closed down by 0.55%. Large-scale technology stocks generally fell. Meituan and Kuaishou fell by more than 3%, and JD.com, NetEase, Xiaomi, and Tencent all fell. The net inflow of southbound funds was 1.64 billion Hong Kong dollars, and the market turnover was 140.7 billion Hong Kong dollars. Ministry of Culture and Tourism: From February 16, 2023, cultural and tourism administrative departments in various places will resume the acceptance and approval of commercial performances involving Hong Kong, Macao and Taiwan. Suspend the newly approved foreign-related commercial performance activities (except those whose cast members are already in the territory).

HSI HK50 4-hour chart

Looking at the 4-hour chart: the bullish momentum maintains a volatile high and slowly moves up, the market is still bullish, and the short-term bullish momentum continues to move upward.

Long-short turning point: 21592

Suppression: 21932, 22194

Support: 21369, 22116

Trading strategy: Bullish above 21592, target 21932, 22194

Alternative strategy: bearish below 21592, target 21369, 22116