Hk50: low pull up shock

Basic analysis:

Hong Kong's Hang Seng Index closed up 201.66 points, or 1.01%, at 20170.04 on Friday, August 26; Affected by the rise of US stocks and the strong influence of China's stock market yesterday, the Hong Kong stock market continued to rise. This week, the overall situation was first suppressed and then increased. The Hang Seng Index rose 1.01% and returned to above 20000 points. The national index and Hang Seng technology index rose 1.05% and 0.79% respectively. Yesterday's surging technology stocks continued to rise. Many biomedical enterprises were investigated by institutions, and biotechnology stocks rose together; The policy continues to increase, and hydrogen energy and photovoltaic have risen one after another. The net inflow of southbound funds was HK $266 million throughout the day, and the transaction volume of the market exceeded HK $100 billion.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low-level bulls were strongly pulled up, the high-level narrow range consolidation, the short-term Bulls' power began to weaken, the MACD index hovered under the 0 axis, and the RSI index was in the 50 balanced online weak consolidation;

Long and short turning point: 19957

Pressing position: 20243, 20452

Support position: 19770, 19620

Trading strategy: bullish above 19957, targeting 20243 and 20452

Alternative strategy: bearish below 19957, target 19770, 19620