HK50: Shock and rise

Brief analysis of fundamentals:

Hong Kong's Hang Seng Index closed up 363.88 points, or 1.84%, at 20145.29 points on January 3 (Tuesday). The first trading of Hong Kong stocks in 2023 ushered in a good start. The three major indexes all opened low and moved high, and the industry sector generally rose. The Hang Seng Index finally closed up 1.84%, back above 20,000 points, the State Index rose 1.92%, and the Hang Seng Technology Index rose 2.53%. The active performance of heavyweight technology stocks supported the rise of the market. Kuaishou, Netease, and Tencent all rose by more than 3%. The net inflow of southbound funds was 6.279 billion Hong Kong dollars, and the market turnover was 120.6 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues the upward trend, the trend continues to fluctuate and rise, short-term bullish sentiment emerges, the market bulls continue to move up, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone.

Long and short turning point: 20100

Suppression: 20433, 20623

Support: 19901, 19731

Trading strategy: Bullish above 20100, target 20433, 20623

Alternative strategy: bearish below 20100, target 19901, 19731