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HK50: short-term shock
2023-05-19
815
Brief analysis of fundamentals:
Hong Kong's Hang Seng Index closed up 166.68 points, or 0.85%, at 19,727.25 points on May 18 (Thursday); the three major Hong Kong stock indexes maintained their gains throughout the day, with the Hang Seng Index up 0.85%, and the State Index up 1.19%. The index rose 1.21%. The rise of large-scale technology stocks helped the market to improve. Chinese stocks became active again. Petroleum stocks and high-speed rail infrastructure stocks rose significantly. .
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: the bearish sentiment in the market is still there, and it may maintain a narrow range in the short term. The market as a whole is in a bearish trend. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance level: 19832 19948
Support level: 18552 19436
Trading strategy: bearish below 19704, target 18552 19436
Alternative strategy: call above 19704, target 19832 19948
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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