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HK50: hovering at a high level

2023-01-20
493
Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed down 27.02 points, or 0.12%, at 21650.98 points on January 19 (Thursday). Affected by the sharp drop in U.S. stocks overnight, Hong Kong stocks performed sluggishly. The Hang Seng Technology Index once fell to 2.5%, and finally fell 1.65%. , The Hang Seng Index and the State Index fell 0.12% and 0.38% respectively, and the two once turned up during the session. Large-scale technology stocks generally fell, Kuaishou fell 6%, Netease fell 3%, Xiaomi, Baidu, and Meituan fell more than 2%, Tencent bucked the trend and rose 0.74%; Xu Lejian, director of the Center for Health Protection of the Hong Kong Special Administrative Region Government, said today that in response to January 30 The compulsory quarantine measures for those diagnosed with the new crown will be cancelled, and from that day onwards, those diagnosed will no longer need to declare. In addition, the quarantine order that was still in effect at that time will be canceled immediately, and the quarantined personnel can leave the quarantine facility.

HSI HK50 4-hour chart



Brief technical analysis:

Looking at the 4-hour chart: the high short-term volatility space has narrowed, the overall bullish momentum in the market has weakened, but it is still hovering at a high level, the MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone;

Long and short turning point: 21616

Suppression: 21932, 22194
Support: 21369, 21126

Trading strategy: Bullish above 21616, target 21932, 22194
Alternative strategy: bearish below 21616, target 21369, 21126

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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