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Hk50: low weak move down

Brief analysis of Fundamentals:

Hong Kong stocks rebounded in the afternoon, with the Hang Seng index falling by 0.12%, the national index falling by 0.33%, and the Hang Seng technology index rising by 0.07%. The downward trend of the three major indexes is expected to ease. Large tech stocks rose or fell, Xiaomi, Baidu and Netease rose slightly, and Tencent fell 1.5%. According to Hong Kong media, the first case of monkeypox is suspected in Hong Kong. The patient was hospitalized in Mary Hospital and is waiting for re examination. It was reported that the young man had travelled abroad in Canada earlier. After returning to Hong Kong, he felt unwell during the quarantine period in an isolation hotel yesterday and developed monkeypox related diseases.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the market maintains low and narrow consolidation, short-term short sentiment is shrouded, the market has not changed, and the weakness is moving downward, MACD indicator is in the short area, and the RSI indicator is in the lower side of the 50 equilibrium line;

Long and short turning point: 19248

Pressing position: 19435, 19629

Support position: 18970, 18769

Trading strategy: 19248 bearish, target 18970, 18769

Alternative strategy: 19248 bullish, target 19435, 19629

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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