HK50: low down

Hong Kong’s Hang Seng Index closed down 195.81 points, or 1.04%, at 18551.11 points on May 29 (Monday). The index and the Hang Seng Technology Index fell 1.19% respectively, and the three hit a half-year low price. Most of the large-scale technology stocks fell, Meituan fell more than 8%, Kuaishou fell nearly 5%, Japan's semiconductor control was implemented, AI computing power continued to be booming, semiconductors led the way, SMIC bucked the trend and rose about 3%, southbound funds all day A slight net inflow of 24 million Hong Kong dollars, the market turnover of 110.4 billion Hong Kong dollars.

HSI HK50 4-hour chart

Looking at the 4-hour chart: the market is shrouded in bearish sentiment, and it will continue to move downward in the short term. The overall bearish decline in the market has not stopped, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone.

Resistance level: 18688 18795

Support level: 18398 18296

Trading strategy: bearish below 18560, target 18398 18296

Alternative strategy: call above 18560, target 18688 18795