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HK50: move up the shock

2023-03-05
874
Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed up 138.08 points, or 0.68%, at 20567.54 points on March 3 (Friday); Hong Kong stocks rose again in the afternoon, and the Hang Seng Technology Index once rose by more than 3%, closing up 2.06%. The index rose 0.68% and 1.2% respectively. This week, the three major indexes first fell and then rose, and the 20,000-point mark was lost and regained. Large-scale technology stocks all rose, Bilibili rose by more than 10% after the results, Baidu rose by more than 5%, NetEase and JD.com rose by more than 3%, Tencent, Meituan, and Alibaba were all popular; the net inflow of southbound funds was 3.997 billion Hong Kong dollars, Market turnover was HK$105.7 billion.

HSI HK50 4-hour chart



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and moves up, the short-term bullish sentiment remains, the market bulls continue to pull up, the MACD indicator is in the short area, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance level: 20769 20961

Support level: 20290 20122

Trading strategy: Bullish above 20476, target 20769 20961
Alternative strategy: bearish below 20476, target 20290 20122

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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