HK50: The ladder shock moves down

Brief analysis of fundamentals:

Hong Kong’s Hang Seng Index closed down 275.64 points, or 1.57%, at 17297.94 points on November 28 (Monday). Hong Kong stocks opened lower and moved higher today, but the three major indexes still closed sharply lower. The Hang Seng Index and the State Index fell 1.57 points respectively % and 1.65%, both fell more than 4% at the beginning of the session, the Hang Seng Technology Index fell 1.93%, and fell more than 5% in the session. Large-scale technology stocks generally fell. JD.com fell 4.3%, Alibaba fell more than 3%, Baidu, NetEase, Xiaomi, and Tencent all fell. The net inflow of southbound funds was 8.492 billion Hong Kong dollars throughout the day, and the market turnover was 118.2 billion Hong Kong dollars.

HSI HK50 4-hour chart

Brief technical analysis:

The 4-hour chart: the high-level short-term ladder fluctuates downward, short-term low open and high and then fluctuates, but the downward trend is good, and the shock may continue to move down in the near future. The MACD index is weak and hovering around the 0 axis, and the RSI index is in the 50 balance line. ;

Long and short turning point: 17510

Repression: 17783, 18009

Support: 17124, 16871

Trading strategy: bearish below 17510, target 17124, 16871

Alternative strategy: call above 17510, target 17783, 18009