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