Hk50: low narrow range oscillation

Basic analysis:

Hong Kong Hang Seng Index closed up 9.33 points, or 0.05%, at 20165.84 on Monday, August 1; Hong Kong stocks opened low and went high in the afternoon, and the three major indexes turned up. The market stopped falling significantly compared with the sharp decline last week. The national index and Hang Seng technology index fell 0.13% and 0.17%. Large technology stocks rose and fell in different ways. Meituan rose by more than 2%, baidu rose by 1.4%, jd.com and Kwai rose slightly, Alibaba fell by nearly 4%, and Tencent and Xiaomi fell; Housing stocks and property management stocks fell again, while power stocks, military stocks, pharmaceutical stocks and maritime stocks were generally depressed.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the momentum of short positions fell sharply, and the low position was supported and rebounded in the short term, but the market as a whole was still weak. MACD index was in the short position and maintained consolidation, and RSI index was in the weak position below the 50 equilibrium line;

Long short turning point: 20179

Pressing position: 20346, 20543

Support position: 19958, 19805

Trading strategy: bearish below 20179, target 19958, 19805

Alternative strategy: bullish above 20179, goals 20346, 20543