Basic analysis:
Hong Kong Hang Seng Index closed down 38.6 points, or 0.23%, at 16557.31 on November 8 (Tuesday); The continuous rebound of Hong Kong stocks stopped rising, and the market sentiment tended to be cautious. The Hang Seng Science and Technology Index fell 2.5% in the middle of the day, closing 1.56% lower. The capital from Nanxia had a net inflow of HK $5.743 billion against the trend throughout the day, and the trading volume in the big market was significantly reduced to HK $104.7 billion compared with yesterday. Macao resumed the normalization of epidemic prevention, Hao Gambling stocks showed strong performance all day, nonferrous metal stocks continued to rise yesterday, and Jinli Yongci soared nearly 18% in the late afternoon; Clover Bio rose by more than 46%, and at one time in the session, it rose by more than 90%. The application for registration of its COVID-19 candidate vaccine is expected to be completed in the fourth quarter.
Hang Seng Index HK50 4 Hour Chart
Technical analysis:
The 4-hour chart shows that the low bulls' power has risen strongly and started to consolidate in the short term. The market bulls' power has weakened. The MACD index fluctuates on the upper side of the 0 axis and the RSI index hovers on the upper side of the 50 equilibrium line;
Empty turning point: 16463
Pressing: 16,898, 17,199
Support: 16204, 15920
Trading strategy: bullish above 16463, target 16898, 17199
Alternative strategy: 16463 bearish, target 16204, 15920