Hang Seng Index: continuous decline

Basic analysis:

Hong Kong Hang Seng Index closed down 315.59 points, or 1.51%, at 20574.63 points on July 21 (Thursday); Hong Kong stocks plunged in the afternoon, with the Hang Seng technology index rising slightly by 0.12% and once rising by more than 1.2% in the session. Large technology stocks rose or fell, with Netease rising by more than 6% and performing better. Kwai and jd.com rose slightly, while meituan fell by more than 2%. The CBRC reiterated its adherence to the positioning of "housing, housing and property management stocks", and both domestic housing stocks and property management stocks fell; Today, the net inflow of funds going south was HK $1.831 billion, and the market turnover was HK $101.6 billion.

Hang Seng Index hk50 4-hour chart

Technical analysis:

Looking at the 4-hour chart: the short momentum fell again, and the market decline remained the same. Although there was a short-term rebound, it failed to change the trend. The MACD index remained weak in the short area, and the RSI index was in the consolidation below the 50 equilibrium line;

Long short turning point: 20680

Pressing position: 20868, 21078

Support position: 20370, 20204

Trading strategy: bearish below 20680, target 20370, 20204

Alternative strategies: bullish above 20680, targets 20868, 21078