HK50: low rise

Hong Kong's Hang Seng Index closed down 190.25 points, or 0.92%, at 20,429.46 points on March 2 (Thursday). The three major Hong Kong stock indexes maintained their downward trend throughout the day, failing to continue yesterday's surge, and the market was cautious about being bullish. As of the close, the Hang Seng Index fell 0.92%, the HSCEI fell 0.83%, and the Hang Seng Technology Index fell 1.42%. Large-scale technology stocks are collectively sluggish. Alibaba fell by nearly 5%, JD.com and Baidu fell by more than 2%, Tencent, Meituan, and Kuaishou all fell. The net inflow of southbound funds was 8.396 billion Hong Kong dollars against the trend, and the market turnover was 110.5 billion Hong Kong dollars .

HSI HK50 4-hour chart

Looking at the 4-hour chart: the momentum of low-level bulls continues to move upwards, the short-term bullish sentiment remains, the market bulls continue to rise, the MACD indicator is in the bearish area and slowly moves upwards, and the RSI indicator is hovering around the 50 balance line;

Long and short turning point: 20356

Suppression: 20691, 20913

Support: 20122, 19924

Trading strategy: Bullish above 20356, target 20691, 20913

Alternative strategy: bearish below 20356, target 20122, 19924