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HK50: low rise

Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed up 833.77 points, or 4.21%, at 20,619.71 points on March 1 (Wednesday). Up 6.64%, the Hang Seng Index and the State Index rose 4.21% and 5.06% respectively, and the Hang Seng Index exploded by 833 points. In February, the level of manufacturing PMI prosperity continued to rise, the RMB exchange rate recovered to 6.9, and the market sentiment swept away the haze. Technology stocks, as the market vane, led the rise, Netease rose by more than 8%, Baidu and Tencent rose by more than 7%, Alibaba, Xiaomi, and Kuaishou rose by more than 6%; the net inflow of southbound funds was 5.745 billion Hong Kong dollars, and the market turnover was 1539 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls are pulling up strongly, the market's short-term bullish sentiment is emerging, the MACD indicator is in the short-term area to maintain consolidation, and the RSI indicator is hovering weakly near the 50 balance line;

Long-short turning point: 20494

Suppression: 20793, 20985
Support: 20308, 20122

Trading strategy: Bullish above 20494, target 20793, 20985
Alternative strategy: bearish below 20494, target 20308, 20122

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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