Hang Seng Index: weak shock lower

Fundamental analysis:

Hong Kong Hang Seng Index closed down 462.78 points, or 2.17%, at 20845.43 points on Thursday, June 16; Hong Kong stocks opened higher and went lower, and the decline of the three major indexes in late trading further expanded. The Hang Seng technology index fell 3.33% to below 4600 points. Large tech stocks fell across the board, with Kwai down nearly 9%, Netease down more than 5%, meituan down about 4%, and Alibaba and Tencent down; Online education stocks continued to soar in the weak market. New Oriental online soared 100% in the intraday trading, once returning to above HK $30, driving Tianli education and Guangzheng education to rise sharply.

Hang Seng Index hk50 - 4-hour K-line chart display:

Technical comments: the short power retreated in a step-by-step manner, fell again to the vicinity of the brin zone index. The brin zone index was moving after closing. The long area of MACD index maintained a shock retreat to the vicinity of the 0 axis, and the RSI index was under the 50 equilibrium line and maintained a shock downward movement;

Multi empty turning point: 20877

Pressing position: 21302, 21700

Support position: 20319, 19961

Trading strategy: bearish below 20877, target 20319, 19961

Alternative strategy: bullish above 20877, target 21302, 21700

The above analysis is a personal point of view and is for reference only.