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HK50: Short positions move down

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed down 357.47 points, or 1.71%, at 20,529.49 points on February 21 (Tuesday); (Golden Ten Data APP) The three major Hong Kong stock indexes fell unilaterally throughout the day, and the Hang Seng Technology Index fell 3.56 points % performed the worst. The Hang Seng Index and the State Index fell by 1.71% and 1.97% respectively, and the three hit new lows. On the disk, heavy technology stocks plummeted and the market fell. plummeted 8.5%, and Baidu fell nearly 5%. According to the forecast of the United Nations, by 2050, Hong Kong, China will become the city with the highest aging population in the world, with 40.6% of the population 65 or above, followed by South Korea (39.4%) and Japan (37.5%).

HSI HK50 4-hour chart

Brief technical analysis:

Looking at the 4-hour chart: the bearish sentiment in the market is still there, the short-term downward trend has not seen the final step, the downward volatility space continues to move downward, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering below the 50 balance line;

Long-short turning point: 20627

Suppression: 20835, 21038
Support: 20330, 20115

Trading strategy: bearish below 20627, target 20330, 20115
Alternative strategy: call above 20627, target 20835, 21038

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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