The A-share index collectively turned red, opened low and moved high, showing toughness

A brief analysis of the fundamentals:

On Thursday (May 19), the three major A-share indexes opened lower collectively due to the sharp drop in the periphery, then rebounded in shock, and collectively rose and turned red in the afternoon. The CSI 300 opened lower and moved higher, closing at 3970 points. The transaction volume of the two cities exceeded 800 billion yuan, and the net inflow of northbound funds exceeded 5.1 billion yuan. , At present, the rotation speed of hot market sectors is relatively fast, and the profit-making effect is general. It will take some time for the recovery of popularity and confidence. Pay attention to the possibility of a short-term decline.

CHINA300 4-hour chart

A brief technical analysis:

From the 4-hour chart, the CSI 300 continues to oscillate within a narrow range, and the long-short game is stalemate. The 55 MA has become the upper resistance, 3960 has become the long-short watershed, the MACD green column has shortened, the RSI indicator has flattened, and the probability of intraday shocks is high.

Long and short turning point: 3960.00

Resistance: 4165.00 4315.00

Support level: 3780.00 3650.00

Trading strategy: bearish below 3960.00, target 3780.00 3650.00

Alternative strategy: bullish above 3960.00, target 4165.00 4315.00