HK50: Move low down

Basic analysis:

Hong Kong Hang Seng Index closed down 564.88 points, or 3.66%, at 14863.06 on October 28 (Friday); The three major indexes of Hong Kong stocks fell sharply in the afternoon, hitting a new low since April 2009; The Hang Seng Science and Technology Index fell 5.56% and the National Index fell 4.08%. The net inflow of funds from Nanxia was HK $5.484 billion, with a turnover of HK $124.6 billion. Large technology stocks continued to fall in the afternoon, and Alibaba fell 4%. IPhone quarterly revenue was lower than expected, and Hong Kong stock Apple concept stocks fell.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that short positions continue to fluctuate downward, and the short-term decline has not stopped. The overall market continues to be weak. The MACD index is in the low order of short positions, and the RSI index is in the short positions to maintain volatility;

Empty turning point: 14983

Pressing: 15308, 15624

Support: 14598, 14304

Trading strategy: 14983 bearish, target 14598, 14304

Alternative strategy: 14983 upside bullish, target 15308, 15624