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Hk50: short breaks new low

Brief analysis of Fundamentals:

Hong Kong's Hang Seng Index closed down 226.39 points, or 1.16%, at 19225.7 on Monday, September 5; Hong Kong stocks were weak throughout the day, with Hang Seng technology index down 1.92%. The net inflow of southbound funds was HK $4.195 billion against the trend. The turnover in the big market was less than HK $100 billion. Large tech stocks fell collectively. JD and Tencent fell by more than 3%. BYD was continuously reduced by Buffett + the market was worried about the "limitation" of auto chips, and auto stocks continued to decline; The latest adjustment of Hong Kong stock connect shows that the trend of relevant individual stocks is different. Kuaigou taxi, which was transferred to Hong Kong stock connect, fell by 6%, Haichang Ocean Park fell by more than 5%, and Hong Kong aerospace technology soared by more than 75%, ranking first in Hong Kong stocks.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the short power continued to fluctuate and decline, the short-term decline did not stop, the market was shrouded in short sentiment, and it continued to move downward after falling below the previous low. The MACD index was in the weak consolidation on the lower side of the 0 axis, and the RSI index was in the consolidation of the short area below the 50 equilibrium line;

Long and short turning point: 19248

Pressing position: 19435, 19629

Support position: 18914, 18763

Trading strategy: 19248 bearish, target 18914, 18763

Alternative strategy: 19248 bullish, target 19435, 19629

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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