HK50: Long Open High Go High

Basic analysis:

Hong Kong Hang Seng Index closed up 1008.46 points, or 5.9%, at 18087.97 on October 5 (Wednesday); US stocks rose for two days in a row, while the Dow rose nearly 1600 points in two days. Hong Kong stocks rebounded in retaliation after the holiday. The Hang Seng Science and Technology Index soared 7.54% as the Hang Seng Index closed up more than 1000 points and reached the 18000 mark; The large market traded 105.4 billion Hong Kong dollars; JD Group rose nearly 10%, leading technology stocks higher, while Netease, Alibaba, Fasthand and Meituan rose more than 8%.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the power of the low bulls jumped away from the high and continued to rise. Short term bullish sentiment began to pour in, and the market bulls kept coming into the market. The MACD index moved up at the low position in the short region, and the RSI index moved up near the 50 equilibrium line, which was a weak preference;

Empty turning point: 17934

Pressing: 18307, 18582

Support: 17695, 17422

Trading strategy: bullish above 17934, target 18307, 18582

Alternative strategy: 17934 lower bearish, target 17695, 17422