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HK50: low position down

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed down 125.51 points, or 0.63%, at 19925.74 points on March 9 (Thursday); Hong Kong stocks fell rapidly in the afternoon, and the three major indexes all turned from up to down. , State Index fell 0.63 and 1.15% respectively. Large-scale technology stocks collectively fell and the market was under pressure. Tencent fell nearly 3%, Kuaishou fell 2.3%, and the net inflow of southbound funds was 2.147 billion Hong Kong dollars. The market turnover was 102.9 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: short-term lows continue to fluctuate downward, the short-term decline may continue, the market as a whole is in a good downward trend, the MACD indicator is hovering below the 0 axis, and the RSI indicator is finishing below the 50 balance line;

Resistance level: 20147 20296

Support level: 19795 19636

Trading strategy: bearish below 19992, target 19795 19636
Alternative strategy: call above 19992, target 20147 20296

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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