Hk50: low long shock pull up

Basic analysis:

Hong Kong's Hang Seng Index closed up 27.9 points, or 0.14%, at 20201.94 on Friday, August 5; The Hang Seng technology index rose 0.79%, and all three recorded three consecutive rises. Large tech stocks rose and fell, Baidu and Xiaomi rose slightly, while Netease, Alibaba and Tencent all fell; The domestic substitution process is expected to accelerate. Semiconductor stocks continued the rising trend yesterday, led by Huahong semiconductor, and SMIC recorded three consecutive gains; The correction of military industry stocks was obvious. Today, the net inflow of funds going south was HK $1.593 billion, and the market turnover was HK $85.1 billion.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low-level Bulls' dynamic reversal surged, and the short-term low-level pull-up trend may continue. The MACD index remains weak in the short area, and the RSI index is in the narrow range below the 50 equilibrium line;

Long and short turning point: 20047

Pressing position: 20349, 20555

Support position: 19840, 19635

Trading strategy: bullish above 20047, target 20349, 20555

Alternative strategy: bearish below 20047, targets 19840 and 19635