Brief analysis of fundamentals:
Hong Kong's Hang Seng Index closed up 227.6 points, or 1.17%, at 19678.17 points on May 22 (Monday). Hong Kong stocks remained high and volatile throughout the day. The index and the country index rose 1.17% and 1.51% respectively. Popular industry sectors were active, and technology stocks, power stocks, and auto stocks performed particularly well. Large-scale technology stocks Kuaishou jumped ahead of the results, rising by about 7%. Baidu and Meituan rose by more than 3%. The net inflow of southbound funds was 303 million Hong Kong dollars throughout the day, and the market turnover was 93.9 billion Hong Kong dollars.
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: the short-term bullish momentum has moved up in the short term, the market is bullish, and there is a trend of continuing to move upward in the short term. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance level: 19786 19902
Support level: 19510 19401
Trading strategy: Bullish above 19620, target 19786 19902
Alternative strategy: bearish below 19620, target 19510 19401