Hk50: low narrow finishing

Basic analysis:

Hong Kong's Hang Seng Index closed down 42.33 points, or 0.21%, at 20003.44 on Tuesday, August 9; The Hong Kong government clarified that there was no plan to relax the property stamp duty, and the three major indexes of Hong Kong stocks quickly fell in the afternoon, swallowing all the gains in the early session. The Hang Seng technology index fell 0.93%. Today, the net inflow of funds going south was HK $591 million, and the market turnover was HK $82.1 billion. Large tech stocks generally fell, JD fell nearly 4%, meituan, Tencent, Netease and Baidu all fell; Online education stocks led the decline throughout the day. The epidemic situation in Sanya and other tourist destinations was severe. Due to the influence of news rumors, Hong Kong local real estate stocks rose and fell significantly, but most of them still closed up; The agency pointed out that there was room for a substantial increase in valuation under the long-term high coal price, and the coal sector remained strong throughout the day.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the low-level bulls have been surging in the short term and started to maintain range consolidation. The market has not yet fully entered the market. The MACD index is in the short area and maintained consolidation. The RSI index is hovering below the 50 equilibrium line;

Long and short turning point: 20047

Pressing position: 20349, 20555

Support position: 19840, 19635

Trading strategy: bearish below 20047, targets 19840 and 19635

Alternative strategy: bullish above 20047, targets 20349 and 20555