HK50: low order

Hong Kong's Hang Seng Index closed up 314.68 points, or 1.64%, at 19,518.59 points on March 17 (Friday). Wall Street giants joined forces to rescue the market, and the US banking crisis eased. Hong Kong stocks rose in response, and the three major indexes performed strongly throughout the day. The Hang Seng Technology Index rose by 4.41%, the Hang Seng Index and the National Index rose by 1.64% and 2.06% respectively, and the Hang Seng Index rose by 314 points. The collective rise of large technology stocks led to a stronger market, ChatGPT led the rise in concept direction, Baidu rose more than 13% and was the best performer. The US Public Company Accounting Oversight Board (PCAOB) will launch a new round of accounting affairs for Chinese concept stocks in Hong Kong as early as next week inspection. The net inflow of southbound funds was 4.184 billion Hong Kong dollars, and the market turnover was 164.9 billion Hong Kong dollars.

HSI HK50 4-hour chart

Looking at the 4-hour chart: the market is shrouded in bearish sentiment, the short-term continuation of the downward trend may continue, the market as a whole is in a short position, the MACD indicator is in a weak position in the short area, and the RSI indicator is in a weak order below the 50 balance line;

Resistance level: 19837 20022

Support level: 19371 19186

Trading strategy: bearish below 19639, target 19371 19186

Alternative strategy: call above 19639, target 19837 20022