Basic analysis:
Hong Kong Hang Seng Index closed up 301.68 points, or 1.82%, at 16914.58 on October 18 (Tuesday); The three major Hong Kong stock indexes expanded in late trading, with the Hang Seng Science and Technology Index leading the rebound, closing 4.25% higher. The Hang Seng Index and the National Index rose 1.82% and 2.18% respectively. Large tech stocks are still the main force driving the market up, with Kwai rising by more than 5%, Xiaomi rising by 4.7%, jd.com, alibaba.com, Netease and Baidu all rising by more than 3%, and Tencent rising by 2.9%; The Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, will deliver his policy address to the Legislative Council at 11:00 a.m. on Wednesday (October 19). Li Jiachao said that he would propose policies and measures to develop the economy and improve people's livelihood in his first policy address.
Hang Seng Index HK50 4 Hour Chart
Technical analysis:
From the 4-hour chart, we can see that the market decline has begun to weaken due to short-term entanglement and low level shocks. The MACD index is at the low level of the short region, and the RSI index is at the lower side of the 50 equilibrium line;
Empty turning point: 16789
Pressing: 17134, 17403
Support: 16527, 16259
Trading strategy: bullish above 16789, target 17134, 17403
Alternative strategy: 16789 bearish, target 16527, 16259