HK50: Low level weak shock

Basic analysis:

Hong Kong Hang Seng Index closed up 215.45 points, or 1.16%, at 18781.42 on September 20 (Tuesday); Hong Kong stocks finally rebounded, and the three major indexes that reached new lows at the same time yesterday remained high and volatile throughout the day. The Hang Seng Technology Index rose 1.99%. The technology stocks that fell continuously rebounded collectively, with Alibaba rising by about 3%, and Kwai, meituan and Tencent rising by more than 1%; The central government plans to study and launch measures to support the development of Macao's tourism industry. Hao Gambling stocks rose further in the afternoon, and Melco International's development rose by more than 14%. The net inflow of capital from Nanxia was 2.743 billion Hong Kong dollars, and the trading volume in the big market shrank to 73 billion Hong Kong dollars.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the power of short positions in the market moves downward in a ladder like manner. The low position is supported in the short term, and the high opening and high moving are sorted out. The short-term bulls have signs of waiting for opportunities to enter the market. The MACD index is maintained in the short position and the RSI index is hovering below the 50 equilibrium line;

Empty turning point: 18619

Pressing position: 18939, 19189

Support position: 18384, 18216

Trading strategy: 18619 upside bullish, target 18939, 19189

Alternative strategy: 18619 bearish, target 18384, 18216