HK50: Low level weak shock

Basic analysis:

Hong Kong Hang Seng Index closed up 83.28 points, or 0.44%, at 18930.38 on September 15 (Thursday); The three major Hong Kong stock indexes that fell sharply yesterday rebounded collectively. The Hang Seng Index rose 0.44%, but still failed to recover 19000 points. The National Index and Hang Seng Technology Index rose 0.59% and 0.25% respectively, and all three fell more than 2% yesterday. The rise and fall of large technology stocks varied. The rise of large financial stocks (banks, insurance companies, securities companies) helped the market to rise. The CRO sector, which had fallen sharply recently, rebounded significantly.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the market is struggling to sort out the low position weak position, the short-term short position momentum remains, and the weak trend has not changed. The MACD indicator is in the short position area, and the RSI indicator is hovering below the 50 equilibrium line;

Empty turning point: 18905

Pressing position: 19069, 19238

Support position: 18722, 18564

Trading strategy: 18905 lower bearish, target 18722, 18564

Alternative strategy: 18905 upper bullish, target 19069, 19238