HK50: hovering at a high level

Hong Kong’s Hang Seng Index closed up 224.56 points, or 1.04%, at 21,738.66 points on January 13 (Friday). The three major Hong Kong stock indexes continued to rise in the afternoon. The State Index and the Hang Seng Technology Index rose 1.09% and 1.51% respectively. Large-scale technology stocks with divergent trends in early trading rose across the board. NetEase rose by nearly 5%, Tencent rose by 2%, Alibaba, Xiaomi, and Kuaishou all rose by more than 1%. The net inflow of southbound funds was slightly 4.048 billion Hong Kong dollars, and the market turnover was 1330 billion Hong Kong dollars.

HSI HK50 4-hour chart

The 4-hour chart: the high short-term narrow-range order is slowly rising, the market is still bullish, and there are signs of continued upward movement in the short term. The MACD index is hovering at a high level in the bullish area, and the RSI index is in a high order in the bullish area;

Long-short turning point: 21619

Suppression: 22091, 22395

Support: 21311, 21047

Trading strategy: Bullish above 21619, target 22091, 22395

Alternative strategy: bearish below 21619, target 21311, 21047