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HK50: move up the shock

Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed down 68.71 points, or 0.33%, at 20,534.48 points on March 7 (Tuesday); Hong Kong stocks continued to weaken in the afternoon, with the Hang Seng Technology Index once falling to 2.3%, and finally closed down 1.31%. The State Index fell 0.33% and 0.36% respectively. On the disk, large technology stocks generally fell, energy stocks rose brightly, three barrels of oil continued to lead the market, CNOOC rose for 5 consecutive days and hit a record high, catering stocks and domestic banking stocks were active, and Tehai International rose for 5 consecutive days Refresh the new high price. The net inflow of southbound funds was 1.233 billion Hong Kong dollars, and the market turnover was 127.7 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

4-hour chart: The bullish momentum maintains a narrow range of volatility and moves upward, and the market is still bullish. Although there is a short-term retracement, there is still a further upward trend. The MACD indicator is in the bearish area and maintains an upward movement. The RSI indicator is near the 50 balance line Weak wandering;

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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