Brief analysis of fundamentals:
Hong Kong’s Hang Seng Index closed down 297.89 points, or 1.36%, at 21660.47 points on February 3 (Friday); the three major Hong Kong stock indexes fell throughout the day, and the decline narrowed slightly in the afternoon. It fell 1.58%, and the Hang Seng Technology Index fell 1.33%. This week, the three major indexes retreated across the board, and the Hang Seng Index fell 4.5%. Most of the technology stocks that are the market vane fell, Baidu fell 4.4%, Alibaba, Kuaishou, JD.com, and Meituan all fell by more than 2%, Tencent and Netease rose slightly; the net inflow of southbound funds was 1.524 billion Hong Kong dollars, and the market turnover was 129.9 billion Hong Kong dollar.
HSI HK50 4-hour chart
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuated downward in a stepwise manner, the short-term decline may continue, the market is shrouded in short-term short-term sentiment, the MACD indicator is in the bullish area to maintain a downward shock, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 21729
Suppression: 21949, 22177
Support: 21385, 21150
Trading strategy: bearish below 21729, target 21385, 21150
Alternative strategy: call above 21729, target 21949, 22177