HK50: low position down

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

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