Brief analysis of fundamentals:
Hong Kong's Hang Seng Index closed up 247.72 points, or 1.24%, at 20,297.03 points on May 8 (Monday). Led by the "China Special Evaluation" market, the main indexes of Hong Kong stocks increased in the afternoon, and the Hang Seng Index rose 1.24% and rose nearly 250 points, the State Index rose 1.47%, and the Hang Seng Technology Index rose 0.48%, which had turned down during the session. Big financial stocks and stocks with a Chinese prefix rose very eye-catchingly. All three barrels of oil with a heavy weight of the Chinese prefix rose sharply, and CNOOC hit a record high.
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum remains volatile and rising, the short-term bullish sentiment continues, the market bullish potential emerges, the MACD indicator is in the short area and moves up to hover around the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;
Resistance level: 20370 20496
Support level: 20084 19973
Trading strategy: Bullish above 20202, target 20370 20496
Alternative strategy: bearish below 20202, target 20084 19973