HK50: Low Short Move Down

Basic analysis:

Hong Kong Hang Seng Index closed up 5.17 points, or 0.03%, at 17860.31 on September 27 (Tuesday); Hong Kong stocks rose and recovered in the afternoon, and the three major indexes stopped falling significantly. The Hang Seng Technology Index rose 0.55%. Most of the large technology stocks rose in the afternoon, helping the market to stabilize. Today, the net inflow of funds from the south was 2275 billion Hong Kong dollars, and the turnover in the market was less than 100 billion Hong Kong dollars. Macao decided to resume electronic endorsement and tour groups for mainland passengers, and Hao Gambling stocks continued to rise; Mainland education stocks, port transport stocks and aviation stocks bucked the trend.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the momentum of short positions continues to move downward, the short-term decline of low positions remains, and the market short positions are shrouded in sentiment. MACD indicators are at the low level of short positions, and RSI indicators are at the low level of short positions;

Empty turning point: 17905

Pressing position: 18087, 18239

Support position: 17647, 17453

Trading strategy: 17905 lower bearish, target 17647, 17453

Alternative strategy: bullish above 17905, target 18087, 18239