Hk50: low volatility

Basic analysis:

Hong Kong's Hang Seng Index closed down 74.19 points, or 0.37%, at 19949.03 on Tuesday, August 30; Hong Kong stocks fell sharply in the morning. In the afternoon, the three major indexes gradually recovered but still closed down. Recently, it hovered around 20000 points, and the Hang Seng technology index fell 0.51%. Large tech stocks fell more than rose, while Hong Kong banks and Chinese medicine stocks were active. The net inflow of funds going south was HK $1.454 billion, and the market turnover was HK $96.1 billion.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the market short sentiment continues to move downward again in the short term, and the low wide range shock may continue. The MACD index is at the lower side of the 0 axis, and the RSI index is at the narrow range near the 50 equilibrium line;

Long and short turning point: 19957

Pressing position: 20186, 20431

Support position: 19617, 19445

Trading strategy: bearish below 19957, target 19617, 19445

Alternative strategy: bullish above 19957, target 20186, 20431