Science and technology stocks greatly benefit the Hang Seng Index to rise above 22000

Fundamental analysis:

Hong Kong Hang Seng Index closed up 482.92 points, or 2.24%, at 22014.59 points on Wednesday, June 8; Hong Kong stocks showed strong performance throughout the day, with technology stocks enjoying a carnival and high market sentiment. After two months, the Hang Seng index returned to 22000 points, and the Hang Seng technology index rose 4.76%, hitting a rebound high above 4800 points. Large technology stocks increased in late trading, with Alibaba up more than 10% and Baidu, jd.com and Tencent up more than 6%. According to market analysis, the regulatory authorities continued to release good news or the main reason. With the orderly resumption of work and production, the United States is expected to cancel some tariffs and the large amount of game version approval, which continue to stimulate the market risk appetite and support the technology stocks with a sharp correction.

Hang Seng Index hk50 - 4-hour K-line chart display:

Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, and the high level showed signs of continuing to rise after reaching the node near 21912. The Bollinger belt index continued to open its mouth slowly. The MACD index was in the long area and moved up slowly, and the RSI index was in the long area and moved up;

Long short turning point: 21687

Pressing position: 22244, 22616

Support position: 21288, 20877

Trading strategy: bullish above 21687, target 22244, 22616

Alternative strategy: bearish below 21687, target 21288, 20877

The above analysis is a personal point of view and is for reference only.