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HK50: Narrow finishing

A brief analysis of the fundamentals:
On November 24 (Thursday), Hong Kong's Hang Seng Index closed up 137.09 points, or 0.78%, at 17,660.9 points; the three major indexes of Hong Kong stocks closed up collectively, and turned down in early trading and maintained a volatile market in the afternoon, and the market sentiment was slightly cautious. The HSCEI rose 0.79%, and the Hang Seng Technology Index rose 0.79%. On the disk, heavy technology stocks rose and fell differently. NetEase and Baidu rose more than 2%. Tobacco stocks, Hong Kong bank stocks, anti-epidemic stocks, biotechnology stocks, photovoltaic solar stocks and other stocks were active. The net outflow of southbound funds was 310 million Hong Kong dollars throughout the day, and the market turnover was 86.1 billion Hong Kong dollars.

HSI HK50 4-hour chart

A brief technical analysis:
From the 4-hour chart: after the short-term shock and retracement, the downward momentum of the market has weakened, and the bulls have begun to enter the market slowly. The MACD indicator is in a weak position near the 0 axis, and the RSI indicator is in a weak position near the 50 balance line;
Long and short turning point: 17570
Repression: 17916, 18162
Support: 17324, 17078
Trading strategy: bullish above 17570, target 17916, 18162
Alternative strategy: bearish below 17570, target 17324, 17078

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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