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HSI: a strong rebound

2023-08-24
434
Basic face analysis:

On Thursday (August 24), Hong Kong stocks ushered in a long -lost rising market. The three major indexes opened high and performed strongly throughout the day. The Hang Seng Index rose 2%to return to 18,000 points to achieve 3 consecutive rises. Looking forward to the market outlook, the current valuation of Hong Kong stocks is located at a low level in history. It has long -term configuration value under the background of the macro environmental path is clear.


HK50 four -hour chart



Technical analysis:

Looking at the 4-hour chart, the Hang Seng Index further broke through the 18000 mark. The MACD capacity can be reduced below the zero axis. The support is 18,000, and the upper resistance is 18400-18700.

Resistance level: 18400 18700
Support bit: 18000 17600

Trading strategy: Sholt the drop below 18000, target 17600 17200
Alternative strategy: 18000 to see bullish, target 18400 18700

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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