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HK50: Short position moves down

Basic analysis:

The performance of Hong Kong stocks was sluggish throughout the day, with three major indexes falling for three consecutive days. Hong Kong shares closed, the Hang Seng Index fell 1.7% and nearly 300 points, closing at 16000 points, the National Index fell 2.13%, and the Hang Seng Science and Technology Index fell 3.28% to 3200 points. Large technology stocks fell across the board, with Kwai down 8.4% and Netease and Alibaba down more than 4%. The capital from Nanxia had a net inflow of HK $5.548 billion against the trend throughout the day, and the turnover in the big market was less than HK $100 billion.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that the short positions continue to retreat and move downward, and the short-term decline may continue. The MACD index is in the weak consolidation on the upper side of the 0 axis, and the RSI index is in the weak hovering near the 50 equilibrium line;

Empty turning point: 16176

Pressing: 16527, 16827

Support: 15725, 15408

Trading strategy: 16176 lower bearish, target 15725, 15408

Alternative strategy: 16176 upper bullish, target 16527, 16827

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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