HK50: Low level weak shock

Basic analysis:

Hong Kong Hang Seng Index closed up 25.21 points, or 0.15%, at 16612.9 on October 17 (Monday); The three major indexes of Hong Kong stocks rebounded from the bottom, and all the gains in the late trading increased., The Hang Seng Science and Technology Index rose 0.15%, the National Index rose 0.07%, and the Hang Seng Science and Technology Index fell 0.2%. It once fell 3.6% in early trading. On the market, some large-scale technology stocks changed from decline to rise, Xiaomi rose by 1.28%, meituan and Kwai rose, baidu continued to fall by more than 5%, and Tencent closed down slightly; Today, the net inflow of capital from Nanxia was HK $6.908 billion, with a turnover of HK $95.7 billion.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

From the 4-hour chart, we can see that the market bulls began to enter the market slowly, but they were still in a weak position. The MACD index remained in the short position area and the RSI index remained weak in the short position area;

Empty turning point: 16789

Pressing: 17086, 17370

Support: 16397, 16121

Trading strategy: 16789 bearish, target 16397, 16121

Alternative strategy: bullish above 16789, target 17086, 17370