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HK50: low down

Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed down 157.57 points, or 0.79%, at 19,785.94 points on February 28 (Tuesday). The State Index and the State Index fell by 0.79% and 1.33% respectively. The Hang Seng Index gained 20,000 points and then lost again. Large-scale technology stocks fell across the board in the afternoon. Hong Kong stock short video concept stocks fell against the trend. Bilibili fell more than 3%, and Kuaishou fell more than 1%. The net outflow of southbound funds was 965 million Hong Kong dollars, and the market turnover was 142.4 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to decline, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is in the bearish area and continues to move down, and the RSI indicator is in the bearish area to maintain consolidation;

Long-short turning point: 19835

Suppression: 20009, 20171
Support: 19583, 19433

Trading strategy: bearish below 19835, target 19583, 19433
Alternative strategy: call above 19835, target 20009, 20171

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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