Hk50: low strong rise

Basic analysis:

Hong Kong's Hang Seng Index closed up 471.59 points, or 2.4%, at 20082.43 on Thursday, August 11; The US inflation slows down, the expectation of interest rate increase may cool down, the global risk appetite rises, and the financial market is good. Hong Kong stocks maintained a strong market throughout the day. The gains of the three major indexes were further expanded in the afternoon. The Hang Seng Index rose 2.4% to 20000 points, and the national index and Hang Seng technology index rose 2.7% and 3.67% respectively. Large financial stocks (Chinese securities companies, domestic banks, and domestic insurance stocks) expanded in the afternoon, with Everbright Securities leading the rise.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low-level short-term wide range shock consolidation, the Bulls wait for the opportunity to enter and move up, the low-level buying starts to pour in, the MACD index is in the short area to maintain the consolidation and translation, and the RSI index is in the lower side of the 50 equilibrium line;

Long and short turning point: 19925

Pressing position: 20256, 20419

Support position: 19726, 19517

Trading strategy: bullish above 19925, targeting 20256 and 20419

Alternative strategy: bearish below 19925, target 19726, 19517