HK50: Low down

Basic analysis:

Hong Kong Hang Seng Index closed 176.04 points lower, or 1.18%, at 14687.02 on October 31 (Monday); Hong Kong stocks rose and fell. The Hang Seng Technology Index and the National Index finally closed down 1.18% and 1.8%. The Hang Seng Science and Technology Index rose 1.05%. At one point in the day, it rose to 5%. 2900 points were gained and lost again. Large technology stocks rose one after another, with ups and downs at the end of the day. Tencent and Meituan rose more than 2%, and Nanxia Capital bought Hong Kong stocks of 5.214 billion Hong Kong dollars on a net basis throughout the day.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the bearish sentiment in the market remains unchanged, the short-term decline has not stopped, the downward trend is good, the low level has broken new lows repeatedly, the MACD indicator is in the low consolidation of the short area, and the RSI indicator is in the narrow range of the short area;

Empty turning point: 14737

Pressing: 15037, 15308

Support: 14304, 13968

Trading strategy: bearish under 14,737, target 15,037, 15,308

Alternative strategy: bullish above 14737, target 14304, 13968