The Hong Kong gas company plans to increase the price by 4.4% from August, and the Hang Seng Index plummeted

Fundamental analysis:

Hong Kong Hang Seng Index closed down 212.81 points, or 1.0%, at 21082.13 points on Thursday, June 2; Affected by the fall of US stocks overnight, Hong Kong stocks showed a weak performance throughout the day, and transactions in the market were sluggish due to the pre holiday effect. Hang Seng technology index fell 0.8%, large technology stocks fell, Alibaba fell 2.43%. Hong Kong Zhonghua gas (0003.hk) announced that it had informed the environment bureau that the gas company planned to adjust the gas charge on August 1. After this adjustment, the gas company promised not to increase the price in the next two years.

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

Technical comments: the power of high short positions moved back slowly, entangled in the narrow range consolidation of the upper rail section in the Bollinger belt index channel, and the short short positions waited for the opportunity to enter and go down. The Bollinger belt index began to close after opening. The MACD index maintained a narrow range consolidation in the long position, and the RSI index maintained a weak range consolidation in the long position;

Multi empty turning point: 21182

Pressing position: 21594, 21966

Support position: 20558, 20160

Trading strategy: bearish below 21182, target 20558, 20160

Alternative strategy: bullish above 21182, goals 21594 and 21966

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