Hk50: low short consolidation

Basic analysis:

Hong Kong Hang Seng Index closed up 77.88 points, or 0.4%, at 19767.09 points on Wednesday, August 3; Hong Kong stocks opened higher and fluctuated, and the three major indexes rose collectively. The Hang Seng index once fell in the late trading, closing up 0.4%, while the national index and Hang Seng technology index rose 0.52% and 1.24% respectively, all of which closed at a false negative line. Large technology stocks were active, with Alibaba and Kwai up about 4%, while Tencent, jd.com and Netease all rose more than 2%; Affected by geopolitics, military stocks led the day, with AVIC and CSSC performing best in defense; Semiconductor stocks rose after the intraday riots, with SMIC once rising more than 9%.

Hang Seng Index hk50 4-hour chart

Technical analysis:

According to the 4-hour chart, the market is shrouded in short-term consolidation, and the overall market is still weak. The MACD index is in the short area to maintain consolidation and translation, and the RSI index is in the short area to hover weak;

Turning point of long and short: 19760

Pressing position: 19961, 20137

Support position: 19505, 19308

Trading strategy: bearish below 19760, target 19505, 19308

Alternative strategies: bullish above 19760, targets 19961, 20137