US stocks fell sharply overnight, and the Hang Seng Index fell more than 500 points

Fundamental analysis:

Hong Kong's Hang Seng Index closed down 523.6 points, or 2.54%, at 20120.68 on Thursday, May 19; The US Wall Street stock market fell sharply on Wednesday, and the panic index soared due to the sharp decline of US stocks overnight. Hong Kong stocks maintained a decline throughout the day, and the Hang Seng technology index fell 3.98%. Large technology stocks still led the decline in the market. Q1 performance was lower than expected. Tencent fell 6.5%, Alibaba fell more than 7% and Xiaomi fell 5%. Today, the net inflow of funds going south bucked the trend, with a turnover of HK $121.1 billion.

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

Technical comments: the short power keeps moving downward with wide amplitude shock in the continuous brin belt index channel. After the low short-term shock moves upward to the node near 20625, it starts to fall again. It is tangled in the node arrangement near the medium rail of brin belt index. The brin belt index shows a downward trend, the trend continues to be medium, the low starts to close slowly, and the MACD index is located below the 0 axis. The short area maintains the arrangement and translation, RSI index short power maintained concussion, down to the lower side of the 50 equilibrium line;

Long short turning point: 20120

Pressing bits: 20532, 20957

Support position: 19563, 19204

Trading strategy: bearish below 20120, target 19563, 19204

Alternative strategy: bullish above 20120, targets 20532 and 20957

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