Basic analysis:
Hong Kong Hang Seng Index closed down 198.79 points, or 1.2%, at 16,358.52 on November 9 (Wednesday); In the afternoon, Hong Kong stocks saw a wider decline. The Hang Seng Science and Technology Index fell to 3% at one time, closing 1.89% lower than 3300 points. The Hang Seng Index and the National Index fell 1.2% and 1.21% respectively. The overall downturn of large technology stocks dragged down the market, with Baidu down 4%, Tencent, JD and Meituan down more than 3%, and the net inflow of funds from the south bucking the trend throughout the day was 1.189 billion Hong Kong dollars, and the turnover in the market was 111.2 billion Hong Kong dollars.
Hang Seng Index HK50 4 Hour Chart
Technical analysis:
The 4-hour chart shows that after the low position bull power shock moves up, the high position retreats when it is blocked, and the short position power starts to wait for an opportunity to enter the field. The MACD index is arranged on the upper side of the 0 axis, and the RSI index is hovering on the lower side of the 50 equilibrium line;
Empty turning point: 16463
Pressing: 16,811, 17,136
Support: 16068, 15725
Trading strategy: 16463 lower bearish, target 16068, 15725
Alternative strategy: bullish above 16463, target 16811, 17136