HK50: move up the high position

Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed up 450.64 points, or 2.32%, at 19,900.87 points on December 9 (Friday). The mainland's epidemic prevention and control continued to improve, and Hong Kong stocks continued yesterday's gains. The index rose by 2.32% and approached the 20,000-point mark, the State Index rose by 2.51%, and the Hang Seng Technology Index rose by 2.33%, all of which refreshed their high prices. Large-scale technology stocks rose across the board. Meituan and Baidu rose by more than 5%, and Xiaomi, Tencent, Alibaba, and Kuaishou all increased. The net inflow of southbound funds was 4.251 billion Hong Kong dollars throughout the day, and the market turnover was 199.4 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the high bulls continue to climb, the short-term pull-up trend continues, the market buys emerge, the MACD indicator is in the bullish zone, and the RSI indicator is hovering in the bullish zone;

Long-short turning point: 19757

Suppression: 20237, 20529

Support: 19462, 19176

Trading strategy: Bullish above 19757, target 20237, 20529

Alternative strategy: bearish below 19757, target 19462, 19176