Hk50: low long concussion up

Basic analysis:

Hong Kong Hang Seng Index closed up 406.95 points, or 2.06%, at 20174.04 on August 4 (Thursday); Hong Kong stocks performed strongly throughout the day, with the Hang Seng index rising 2.06% to recover 20000 points, the national index rising 2.12%, and the Hang Seng technology index rising 3.18%, all of which rebounded for two consecutive days. The strength of large-scale technology stocks led to the market's popularity, with jd.com and Alibaba up more than 5%, Xiaomi and Baidu up more than 4%, and meituan, Tencent and Kwai all strengthened; The medical and pharmaceutical sector led the increase, with Shanghai Hong Kong Shenzhen innovative new drugs and Hang Seng medicine up 3.38% and 3.22%. Semiconductor performed well, with chip ETF funds up 2.63%. The military industry sector adjusted, and the military industry ETF fell 2.12%.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low-level Bulls' power fluctuated and rose, and began to reverse and move up in the short term. The market bulls' power waited for the opportunity to enter, and the MACD index maintained consolidation and translation in the short area, while the RSI index maintained concussion and slowly moved up in the short area;

Long short turning point: 20047

Pressing position: 20349, 20555

Support position: 19840, 19635

Trading strategy: bullish above 20047, goals 20349, 20555

Alternative strategy: bearish below 20047, targets 19840, 19635