HK50: Short position moves down low

Basic analysis:

Hong Kong Hang Seng Index closed down 195.72 points, or 1.04%, at 18565.97 on September 19 (Monday); The market was wary of the US Federal Reserve raising interest rates by 100 basis points more than expected, and the global financial market was weak. Hong Kong stocks fell again, with the HSI falling 1.04%, a new low since March 16, and the Hang Seng Technology Index falling 2.07%, all of which hit recent lows. Large technology stocks continued to fall, and most local stocks in Hong Kong also strengthened, while gas stocks and Hong Kong bank stocks rose. The Hong Kong Trade and Development Council said that Hong Kong's export index in the third quarter rose 1.9 points month on month to 32.8, reflecting the growing positive outlook of Hong Kong's short-term exports. However, the trade value index dropped 11.5 points to 40.2, indicating that they still have to face the pressure of unit price reduction. Fan Wan'er, Research Director of TDC, pointed out that the market was worried about the continued deterioration of the external environment, which made the recovery slower than expected.

Hang Seng Index HK50 4 Hour Chart

Technical analysis:

The 4-hour chart shows that market bearish sentiment is shrouded, the short-term decline has not stopped, and there is a further downward trend. MACD indicators remain in the bearish area, and RSI indicators remain in the bearish area below the 50 equilibrium line;

Empty turning point: 18619

Pressing position: 18784, 18939

Support position: 18384, 18216

Trading strategy: 18619 bearish, target 18384, 18216

Alternative strategy: 18619 upper bullish, target 18784, 18939