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HSI: Weaker again

Fundamental analysis:

On Friday (August 25), the three major indexes of the Hong Kong stock market continued to decline throughout the day. There was a straight-line rise in the afternoon, but then fell back and even increased, and market sentiment fell into a downturn again. As of the close, the Hang Seng Index fell 1.4%, falling below the 10,000 mark again. Looking ahead, the market may have downside protection, but the upside is still limited, and more stimulus policies are still necessary.

HK50 four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, the Hang Seng Index rebounded around 18200 and was blocked and fell back. The MACD volume can be reduced below the zero axis, but the trend has returned to decline.

Resistance level: 18250 18500
Support level: 17550 17200

Trading strategy: bearish below 18250, target 17550 17200
Alternative strategy: call above 18250, target 18500 18800

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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