HK50: Short positions move down

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. JD.com 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

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