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HK50: Low short continued to fall

Basic analysis:

Hong Kong Hang Seng Index closed down 296.67 points, or 1.61%, at 18147.95 on September 22 (Thursday); The US Federal Reserve raised interest rates by 75 basis points, triggering a global "interest rate hike", and the risk market fell sharply. The three major indexes of Hong Kong stocks fell again, with the Hang Seng Index falling 1.61%, falling below 18000 points in the day and hitting a new 11 year low. The National Index and Hang Seng Science and Technology Index fell 1.14% and 1.7% respectively, both of which have refreshed and adjusted their low prices. Science and technology stocks, the market bellwether, fell collectively, and the capital from the south bucked the trend, with a net inflow of HK $4.235 billion and a turnover of HK $85.1 billion in the market.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the market opened at a low level and moved towards a low level. The short-term decline may continue, and there is a tendency to continue to dip. The MACD indicator is in the short position area and remains in the weak position area, while the RSI indicator is in the short position area;

Empty turning point: 18242

Pressing position: 18467, 18690

Support position: 17896, 17678

Trading strategy: 18242 lower bearish, target 17896, 17678

Alternative strategy: 18242 upper bullish, target 18467, 18690

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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