HK50: move down the high position

Hong Kong's Hang Seng Index closed down 282.75 points, or 1.37%, at 20367.76 points on April 19 (Wednesday). The index fell 1.37% and 1.63% respectively, and the Hang Seng Index fell nearly 300 points. Large-scale technology stocks fell across the board. Greater Bay Area Airlines launched the "Hong Kong-Taipei Flight Package". From now until May 10, passengers can purchase 3 sets of Hong Kong-Taipei round-trip air tickets for a minimum of HK$1,890, which can only be used by the same person. The net inflow of southbound funds was 4.532 billion Hong Kong dollars throughout the day, and the market turnover shrank to less than 100 billion Hong Kong dollars.

HSI HK50 4-hour chart

Looking at the 4-hour chart: high short positions are fluctuating downwards, and the market is shrouded in bearish sentiment. In the short term, there will be a trend of continuing to fluctuate and move downward.

Resistance level: 20496 20612

Support level: 20193 20076

Trading strategy: bearish below 20366, target 20193 20076

Alternative strategy: call above 20366, target 20496 20612